Labour's David Parker has responded to National's criticism of the Party's fiscal plan.

The plan promises to look for more savings across the Government's books and to keep net debt under 30 percent of GDP.

But National questions Labour's credibility- saying it's blown all operating allowances set since 2017.

Associate Finance spokesperson Parker says it's because of Covid and the cyclone and flooding.

"That's no more true of us than it was of John Key when he had to meet the consequences of the global financial crisis, and then the Canterbury earthquakes. We're a very responsible Government, fiscally."

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