New Zealand’s Labour Party says it will make the Earthquake Commission (EQC) levy a property-based charge rather than one levied on insurance premiums if it is elected later this month.

The levy would be collected through council rates, and Labour leader Phil Goff says the flat rate would be made proportionate to property rates.

The ruling National Party has attacked the proposal, saying someone with a small house in Auckland would pay far more than the owner of a large house elsewhere that would cost more to repair.

Labour would also raise the $NZ100,000 ($76,000) cap on damage covered by the EQC, to reflect rising house and construction costs since the figure was set in 1993.

New Zealanders vote on November 26 and the National Party government of John Key is well ahead in the polls. The Government has raised the EQC levy on property-owners and said that next year it will review how the EQC is funded.