Labour says its competition has simply got it wrong.

National's claiming it's found a $11.7 billion hole in Labour's fiscal plan, which would push debt up to $20 billion.

But Labour's finance spokesman Grant Robertson disputes that.

He said the numbers have been independently checked, and Steven Joyce is misleading New Zealanders.

"This is a desperate act from a flailing finance minister. What he's tried to do here is disingenuous."