Labour's promising a major shift in economic policy, if it gets to form the next government.

Finance spokesman Grant Robertson has been laying out his ideas at the party's congress this morning.

He says it's time for a fresh approach, and a new vision for the economy.

Grant Robertson says it will focus on shared prosperity and building wealth from the ground up.

Before the congress, Andrew Little revealed Labour will unveil a negative gearing policy to level the playing field for first-home buyers.

The event at Te Papa in Wellington has kicked off with keynote speeches from two of its leading lights this morning.

Several hundred delegates will be there to hear why the party believes it can win the election in September.

Mr Little speaks tomorrow and hopes to fire up the activists, Labour's foot soldiers, for the campaign.

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New policies will be unveiled at the congress and Mr Little says the big topics are going to be housing and health.

That includes a negative gearing policy, Mr Little told TV3's The Nation before the congress.

That's the system that allows owners of rental properties to claim tax write- offs - one of the reasons buying multiple properties and renting them out is so popular.

It's one of the reasons there's a shortage of houses to buy and Labour has previously signalled it intends removing the tax break.

"All of our housing initiatives are first-term initiatives, they'll be stuff we can do as early as possible, as quickly as possible because the housing situation now is in crisis," Mr Little said.

"We are going to level the playing field and make it easier for first-home buyers to get their first home."

Reserve Bank governor Graeme Wheeler has suggested the government should consider the impact it's having on the housing market.

Prime Minister Bill English has ruled that out.
He said this week the government's tax policy was to treat businesses consistently "and there doesn't appear to be a strong reason to carve out the rental business".

Mr Little also announced would be unveiling Labour's immigration plans in the coming weeks, aiming to reduce immigration by more than 20,000 people a year.

The policy will target work and student visas.

Before Mr Little's speaks there will be a showcase featuring six new women candidates.

Other speakers at the conference include its president Nigel Haworth and CTU president Richard Wagstaff.