The National Party says it will scale back its tax cut policy "slightly" after a worsening of the Government's accounts.
In the pre-election fiscal update released on Monday, the Treasury forecast a cash deficit of almost $6 billion this financial year, rising to $7.3 billion by 2013.
National leader John Key says the party is committed to tax cuts if it becomes government after the election in November.
But he says over the past 24 hours, National has re-assessed its policy to take into account the deteriorating Crown accounts and a worsening international position.
Mr Key says under a National government, a worker on the average wage will still get a tax cut of about $50 a week - the bulk of which will begin in April 2009.
He says the areas of spending National will cut will be outlined on Wednesday.
