The Prime Minister Bill English says tax cuts are on the table but the Labour Party is ruling out putting up taxes if it's in government.
The Labour Party finance spokesperson Grant Robertson told Morning Report the party could fund its election promises with the forecast large government surplus.
Mr Robertson told Morning Report Labour plans to crack down on property speculators by extending the Government's bright-line test, under which people pay tax on the profits from houses bought and resold within a set period.
He says its priority is reinvesting in health, education and housing.
He told Morning Report Labour would take a joint approach with the Green Party on fiscal strategy, but Mr Robertson would not say whether the Greens had agreed to no tax rises.