The government still 'intends' to deliver tax cuts by July, but won't lock them in until they've got them past their coalition partners.
Deputy Prime Minister Winston Peters has agreed with reports the government has a 5.6 billion dollar fiscal hole.
A cornerstone promise in National's election campaign was to deliver tax cuts to the tune of around 14 billion dollars over four years.
Former Reserve Bank economist Michael Reddell was one of three experts who reviewed National's foreign buyer tax policy prior to the election and raised serious concerns about the party's revenue projections.
That policy ended up being dumped during coalition negoations.
Michael Reddell speaks to Lisa Owen.
