Chris Hipkins is comfortable being labelled a socialist, saying there is a more active role for the state to play.
It comes after democratic socialist Zohran Mamdani won the New York mayoralty in Donald Trump's America.
Hipkins, the leader of the New Zealand Labour Party, told Guyon Espiner on 30 with Guyon Espiner Mamdani's win showed there was a "big backlash" against the system in the United States.
"At the moment, people feel like the economic system isn't working for them, and they're looking for alternatives. We've had four or five decades, around the world, now of an economic system that says, 'Don't worry about concentration of wealth, eventually that will flow down, everyone will be better off'. And a lot of people are looking at that going, that's not us. That's not what we're experiencing.
"The cost of living is getting more, we're feeling more marginalised. Economically, our jobs are less secure, and they want something different."
Labour leader Chris Hipkins. Photo: RNZ / Cole Eastham-Farrelly
Despite saying New Zealand was in a "very different" position to the US, Hipkins said Mamdani had identified the modern economy had trended towards far too many monopolies - and New Zealand was seeing the same pressure.
"We have the supermarket duopoly controlling a huge proportion of our food supply. Is that something we can sustain as a small country? No, I don't think it is."
Hipkins said the Labour party "absolutely" had further policies coming on how to tackle that.
"We'll have some further policy around competition, we've got some further policy to come on that."
Hipkins doubled down, telling Guyon Espiner that New Zealand needed to see more competition in a range of areas and food was one of them.
"I'm not announcing any new policy today but yes, we will do more in that area because I don't think we can sustain what we have now."
Guyon Espiner interviews Labour leader Chris Hipkins. Photo: RNZ / Cole Eastham-Farrelly
Asked if Hipkins would be happy labelled a democratic socialist - something Mamdani called himself - Hipkins said he did not have a problem with it.
"Social democrat, democratic socialist, variance of the same thing. People who believe there is a more active role for the state? Yes, I do.
"I believe there is a more active role for the state, absolutely."
As well as competition for supermarkets, Hipkins said Labour would have policies around competition for the four big banks, too.
"I think the profits that we are seeing from the banks, from the supermarkets, from the electricity companies, from some of the insurance companies are a sign that New Zealand doesn't actually have what the free market is supposed to deliver us - a competitive economy.
"You've got some big players who are ultimately able to make very, very large profits, exclude competition from the market and New Zealand consumers and New Zealand citizens are ultimately the ones who pay the price for that."
Labour leader Chris Hipkins says the party has policies coming on supermarket duopolies. Photo: RNZ / Cole Eastham-Farrelly
Espiner asked Hipkins if the four major banks should be worried if Labour was voted into government.
"I think anyone who is making a large amount of money from monopolistic behaviour should be worried about a future Labour government, because we want to see more choice for New Zealanders. We want to see a genuinely competitive economy. We want to see Kiwis getting a better deal."
"Breaking up" such large duopolies was a big step to take, Hipkins said, but making sure there was more competition available was where Labour would be active, he said.
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