New Labour leader Andrew Little says the party should not go into the 2017 election with raising the superannuation age and introducing a capital gains tax on its slate.
Mr Little has won the leadership vote by 50.52% to Grant Robertson's 49.48%, after Nanaia Mahuta and David Parker were eliminated in the first two rounds.
Mr Little, a former national secretary of the Engineering, Printing and Manufacturing Union, received crucial backing from affiliated unions.
He told reporters Labour's policies to raise the age for New Zealand Superannuation from 65 to 67 over time and introduce a capital gains tax were reasons people didn't vote for the party at the last election and the one before that.
"I've made a judgement that the superannuation policy and the capital gains tax policy have been problems for us and are two reasons why people haven't voted for us, and therefore we need to review them," he said.
"We will have a review process, we will go through that. I will argue my case in the forums of the party, but my firm view is that we should not be going to the 2017 election with those policies on our slate."
The review process follows Labour's disastrous showing in the September election and will formulate the party's strategy for the next three years and the 2017 election.
Mr Little says it won't just be about policy but a range of things.
"We'll talk about those things. What we will do in 2017 is have a policy platform that is simple, that is clearly understood and will be widely understood by New Zealanders and will give us a chance to win in 2017," he said.
The architect of Labour's superannuation and capital gains tax policies, David Parker, says he won't stand as finance spokesman.
ONE News political editor Corin Dann says that has opened the door for former leader David Cunliffe to maybe come back as a possible spokesman.