'Going backwards': Labour's Kieran McAnulty unpacks 'Cost of Luxon' figures

The Labour Party released their 'Cost of Luxon' document earlier today - which claimed a family with two children was paying $6235 more per year during Luxon's time as Prime Minister.

However, leader Chris Hipkins later conceded the party’s calculations did not include reductions in mortgage rates or the Government’s tax cuts.

Labour campaign chair Kieran McAnulty says the party also didn't factor in the decline in wages, as many pay increases didn't keep up with inflation.  

"70 percent of New Zealanders have had a wage increase that's lower than the cost of living, so they're going backwards." 

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