Tauranga Independent MP Brendan Horan is ready for round two with his former leader Winston Peters after being labelled NZ's version of Jimmy Savile.

Tensions reached boiling point in Parliament yesterday when Brendan tried to table NZ First board meeting minutes, alleging improper use of tax payer money.

There is no love lost between former political party colleagues Winston Peters and Brendan Horan.

The NZ First leader hit out at his former party member after the tabling of documents was denied.

'This House should not be used in that way, particularly by the Jimmy Savile of New Zealand politics,” responded Peters.

Jimmy Savile is the late BBC television presenter accused of sexual crimes against children.

'Jimmy Savile needs to know better,” Winston told the House.

Horan demanded an apology for the 'disgusting comments” he said he had taken offence to.

Speaker David Carter initially refused to take action and accused Horan of a 'trifling” point of order.

But in an about turn, the speaker ordered Winston to withdraw and apologise after Police Minister Anne Tolley complained about the remarks being 'really offensive”.

Speaking to SunLive from Wellington this morning, Brendan says he will today release evidence to support his claims the party misused funds.

'Today I am releasing information with regards to alleged improper uses of this leader's budget, which is the sum of $2.5 million over this current parliamentary term.”

Brendan expects Winston to fight back.

'Nobody in Parliament has ever stood up to Winston before, but I'm a different kettle of fish and I will never back down.”

Last week, Brendan released information about Winston Peters owning shares in a five-year-old racehorse named Bellazeel, which has a successful racing career.

'Winston has failed to declare the horse in his pecuniary interests return.”

Read more about the accusations here.

Since then, Brendan says Winston has made claims that Brendan failed to prove his claims.

'I have to release this in Parliament today because I need the protection of Parliament. Unlike Winston Peters I don't have a fund to draw on to pay my legal fees.”

Brendan says he has gone through the crucibles of having his reputation infringed upon.

'And that man [Winston Peters] has done that.”

The Tauranga MP will also be delivering his Budget speech in Parliament today.

'The second half of my speech will be about the evidence I have from people who have come forward about allegations against Winston Peters.”