Watch: 'It's absolutely robust' - Jacinda Ardern hits back at Steven Joyce claims of $11b hole in Labour's budget

Labour Leader Jacinda Ardern is rejected claims by National that her party has not properly costed its policies, saying Labour had them independently checked.

National finance spokesman Steve Joyce says analysis of Labour's fiscal plan show major errors and an $11.7b hole. Source: 1 NEWS

Steven Joyce today issued a warning to New Zealanders, saying Labour's budget has a $11.7 billion hole in it, accusing them of making serious errors.

"Labour's recipe would lead to more debt, higher interest rates and a slower economy - not to mention a host of extra and unexplained taxes they would impose on households and businesses," Mr Joyce said.

However, Ms Ardern today told media she stands by her party's budget, insisting that it had been checked by an economist outside of the party.

The organisation which had checked the party's figures is Business and Economic Research Limited, headed by co-directors Dr Ganesh Nana and Kel Sanderson.

"Unlike the government we have factored in inflation adjustment, population growth and added that in - particularly for our health and education budget line," Ms Ardern said.

"We stand by our fiscal plan, it's absolutely robust - it's been independently assessed.

"We brought in that independent view because we knew, of course, that it would be critically assessed by our opponents."

Mr Joyce said Labour's fiscal plan has a $11.7b hole in it, but Ms Ardern says it has been independently checked. Source: 1 NEWS

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