Election 2023: Hundreds of landlords to become tax-cut millionaires under National's plan - analysis

New analysis released exclusively to Newshub shows a group of 300 landlords are set to become tax-cut millionaires under National's tax plan. 

It comes as the two major parties continued to lob fiscal fire at each other on Tuesday around how much would need to be cut to pay for their election promises.

Henrietta Bollinger writes and fights for the disabled community, especially those on a benefit.

"They deserve the dignity and respect of getting their needs met," Bollinger said. 

But they're worried about what's going to happen under National as the party is proposing to tie benefits to inflation, rather than wage increases.

A Council of Trade Unions (CTU) analysis has found beneficiaries will be $17,000 worse off after five years of that change. 

"It's a reduction in income that the disabled community can't afford," said Bollinger. 

It is expected to save National $2 billion over the next five years.

Coincidentally, that's the same amount the party budgeted for a tax cut for landlords by reintroducing interest deductibility rules. 

Asked if landlords or beneficiaries were better off under National's plan, National's finance spokesperson Nicola Willis said tenants and working people were better off.

"All New Zealanders. I reject your binary," she said.

The CTU has also found that mega landlords will make mega bucks from the National tax plan.

In 2021, data showed there were 346 landlords who owned at least 200 properties each. The CTU analysis shows those landlords are in for an average tax cut of $1.3m each over five years - the total going to that group: $464m. 

"There is no benefit to giving millions of dollars to already wealthy landlords and taking it from disabled people, single mums and others who desperately need every dollar they can get," said CTU economist Craig Renney.

Willis said beneficiaries will get cost of living help when their rents are lower. 

But Willis admitted that the tax cuts wouldn't lower rents, just ease the increase.

"It will slow the increase, it will put downward pressure," she said. 

The fight over fiscals is still fizzling along, with both sides rewriting each other's Budgets on Tuesday. 

Labour claiming National will cut deeper.

"That is completely wrong. They are recycling more of the same rubbish," said Willis. 

National is claiming Labour's free dental vow is not what it seems.

It actually only covers basic dental treatment. The National Party say Labour should release the fine print. 

"Chris Hipkins, he is the Prime Minister, but he is actually the Prime Misinformer," said Luxon.

Labour finance spokesperson Grant Robertson said the party had been "very clear" it is free basic dentalcare.

And in a bizarre turn of events, one of the leaders presiding over this profound policy debate has been forced to clarify his position on dinosaurs.

Asked by Guy Williams if he believed in dinosaurs, Luxon refused to answer. 

But at a press conference on Tuesday he confirmed he did.

He later tweeted his new favourite dinosaur - the TaxReliefosaurus.