This just in - Labour announces a second policy
Labour party leader Helen Clark has said her party would introduce student allowances across the board if it forms the next Government.
In a speech to students at Otago University this afternoon, she said the policy would be phased in from next year and be universal by 2012.
The policy would cost $210 million a year once it is fully implemented.
Helen Clark said: "My dream has always been to enable or young people to have the kind of support that my generation had when in tertiary education."
The threshold for receiving an allowance will rise from $45,743 now to $50,318 on January 1 2009.
It will then rise to $70,000 in 2010, $100,000 in 2011 and be abolished in 2012.
The announcement received a rousing reception from around 1000 students attending the speech.
