Labour's fuel excise freeze would cost at least $1.8 billion, Treasury estimates show

Labour has pledged to freeze fuel excise for a full term if elected, scrapping a legislated 12-cent-per-litre rise due from January. Treasury estimates the three-year deferral costs around $1.8 billion — and that excludes later scheduled increases Labour would also cancel. Labour plans to divert $65 million annually from the National Land Transport Fund to cap public transport fares.