Mini-Budget: Parliament in stitches after another Nicola Willis gaffe

There was a late contender for quote of the year in Parliament on Wednesday afternoon. 

Defending her roll-out of tax cuts, Nicola Willis declared: "What New Zealanders care about is the size of the sausage... not how it's delivered." 

It comes after the Finance Minister's mini-Budget, released on Wednesday, didn't deliver tax cuts for Christmas - instead aiming to save $7.4 billion by tightening the belt and chucking Labour policies on the bonfire. 

The economy is growing slower than expected, with Treasury saying there could be two recessions on the horizon. 

Unemployment is set to rise to 4.5 per cent next year and to 5.2 per cent in 2025. 

And, while international tourism and soaring migration are propping up the economy, they'll also keep interest rates higher for slightly longer. 

Kiwis struggling with the cost of everything and hoping for more cash for Christmas will have to settle for a promise. 

"There is much work ahead to clean up the mess that Labour left us but Kiwis can approach Christmas knowing better economic management has arrived and lower taxes are on the way," Willis said. 

She has worked out how to cut and save more than $7 billion through culling some of Labour's projects like Let's Get Wellington Moving, 20 hours' free childcare for 2-year-olds, half price public transport and spending cuts to the public service. 

"I reject austerity," Willis added. "We're doing the opposite - we're taking responsible steps to protect frontline services." 

Willis also got to show Kiwis the fiscal cliffs she's been warning about - but most of them were already well known. 

But while there was a lot of talk of cliffs and financial time bombs, what was missing from the mini-Budget were the details of how she's going to pay for her mega tax cuts - or even who gets them first. 

Nicola Willis.
Nicola Willis. Photo credit: Newshub.

It could be that tax cuts are partly funded by a crackdown on tax evaders - a New Zealand First idea.

"I've been advised this could contribute hundreds of millions of dollars to our bottom line," Willis said.

Watch the full video for more.