The flood of Kiwis voting no confidence in the National-led NZ economy continues to rise, Labour's Economic Development Spokesperson David Cunliffe says.

"A record number of New Zealanders left our shores in 2011, with a gross loss of 45,863 to Australia alone. That brings the total brain drain to that country under John Key to an astounding 116,550.

"That's roughly the population of Hamilton or Dunedin packing up and leaving because they have no hope of a better life in John Key's version of Godzone. They have decided the only 'brighter future' they can see lies offshore," David Cunliffe said.

"The exodus can't be glibly passed off as the effects of Canterbury earthquakes. These people are going for very real reasons.

"Australia largely avoided the global recession because of enlightened policies introduced by its Labour government.

"It has an unemployment rate of 5.5percent; New Zealand's is 6.5 per cent. According to a Bloomberg report today the average weekly wage in New Zealand is 40 per cent less than in Australia.

"Food and living costs continue to soar, yet wages are stagnant. Who could blame individual families for wanting to do their best to provide for their kids?

"We shouldn't be falling behind. It is not just minerals, nor even Australia's compulsory savings scheme that National lacks the courage to adopt in New Zealand. Australia has had a real plan for economic development, a plan similar to the one the Economic Development briefing papers to the Minister call for.

"As the briefings made clear, successive rounds of austerity are not a substitute for a real plan for economic growth and development.

"There are real choices for New Zealanders besides packing up and heading across the Tasman.

"Unfortunately for a net 116,500 of them, National offered none," David Cunliffe said.