Election 2023: National likely to reveal how it will pay for tax cuts earlier - Christopher Luxon

National leader Christopher Luxon says the party may now reveal how it will pay for its tax cuts plan earlier than expected.

Labour was expected to announce its tax policy shortly, telling voters how much more or less money people would have in their back pockets if they vote red.

The incumbent Government has also repeatedly attacked National's plans to adjust tax brackets to inflation, questioning how the party would pay for them.

National has previously said the fully-costed plan would be unveiled ahead of the pre-election fiscal update - a month before New Zealanders head to the polls. 

However, Luxon said it could now be earlier than that.

"I think we'll be able to do it a little bit sooner than that and that will give people a little bit more time, and that's what we're working on right now," he told AM on Wednesday.

Luxon wouldn't say exactly when that might be but, nonetheless, assured the plan would be "fully funded" and "we think it's a really good way to go".

"For an average income earner, it's going to give them $1000 a year," he said.

"It doesn't solve all the problems on the cost of living but it does help."

While the exact details of Labour's tax policy remained unclear, leader Chris Hipkins ruled out a wealth and capital gains tax earlier this month. 

It's led to fractions within the party. Senior minister David Parker earlier this week relinquished the Revenue portfolio, saying it was "untenable" for him to remain in the role - having earlier said he was "disappointed" with Hipkins' decision. 

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