National's economic vision: Oil and gas ban canned, 90-day trials back in, retirement age up

National would repeal the offshore oil and gas exploration ban and bring back 90-day trials for employees, if elected in 2020. 

The party is promising to repeal 100 regulations in its first six months in office and is looking to increase the retirement age from 65 to 67 starting in 2037. 

The justification for the increase is that it would save $4 billion per year, and "give everyone certainty about saving for their retirement", the party said. 

National is also proposing to increase the required residency for a New Zealand citizen or permanent resident from 10 to 20 years. 

The policies were revealed in a discussion document unveiled by National on Monday, which is open to the public for feedback. 

National would repeal:

"The current Government thinks we are so rich that we no longer need to keep exploring oil and gas and we no longer need to look for gold or things like rare earth elements needed for hi-tech products," the paper says.

"National is not so complacent or reckless. We understand a strong economy requires diversity and the utilisation of its natural resources."

On re-introducing 90-day trials, the paper says: "90-day trials work because they encourage businesses to take on new staff that they otherwise might not."

National leader Simon Bridges said the range of policies aims to rebuild business confidence, which according to a recent ANZ survey, has plummeted

"National understands that a strong economy is what puts more in the back pockets of New Zealanders and allows us to invest more in the things that matter to New Zealanders.

"We're proposing a range of positive initiatives which will bring back confidence to businesses in New Zealand and support a strong, growing economy."

National would re-introduce targets in health, education and law and order that the current Government scrapped, such as the National Health Targets which were quietly shelved last year. 

Bridges said 100 regulations would be scrapped in the first six months if National is elected next year, and two old regulations would be eliminated for every new one introduced.

National would also consider amending the Public Finance Act to improve accountability and reporting of results of all government spending. 

It would ensure the Treasury has a "greater focus on providing sound advice on the effectiveness of government spending, identifying wasteful spending and driving higher productivity in the public sector".

"That's why we'll require future governments and regulatory agencies to undertake at least one regulatory simplification process every three years that looks at reducing the complexity and number of regulations."

It will also work to ensure at least one New Zealand University is ranked in the top 50 worldwide.

A voluntary 'Small Business Payments Guarantee' would also be set up to ensure small businesses are paid on time and within 30 days.