Labour has gone on the attack over National's tax policy Thursday morning, saying only 3,000 households would receive the $250 a fortnight tax cut that the party has been campaigning on.

Thursday morning Labour's finance spokesperson, Grant Robertson, described the policy as a scam.

He says 99 percent of New Zealand households won't get the full $250 headline figure, despite National's publicity materials claiming that is the amount "an average-income family with children" would receive.

He went on to say that claim was a lie. The analysis was done by the Council of Trade Unions.

National's finance spokesperson Nicola Willis spoke to Charlotte Cook.