Nicola Willis: Finance Minister on the Government promising to deliver tax relief in this year's Budget - Heather du Plessis-Allan Drive

The Finance Minister has promised Kiwis will benefit from meaningful tax cuts in this year's Budget.

Nicola Willis gave a preview speech to the Hutt Valley Business Chamber this morning - and ruled out austerity, despite a challenging economy.

Willis says she's made sure the cuts will be targeted at middle to lower income workers and families.

"We've come up with what we think is responsible. As I outlined today - inflation has pushed New Zealanders into much higher tax brackets. That means, on average, people are paying a lot more tax."

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