The much-anticipated opposition tax cut plan has just been released by the National party in the last few minutes, and finally New Zealanders have a clear picture of what John Key has been talking about for several months.

It was revealed yesterday that National would scale back on tax cuts because of the declining state of the New Zealand economy. Breaking news has announced that if elected in the 2008 election next month, John Key plans to put an extra $15 in the average wage earner’s pocket each week above the current tax cut plan offered by the incumbent New Zealand Government.

National plans to, if elected, roll out most of the tax cuts in April next year, while the current Labour party plan sees cuts rolling out slower, culminating in 2011.

John Key will formally confirm figures this afternoon at a press conference in Auckland. Keep tabs on the NZS.com political news headlines for updates.