The former Finance Minister behind the 'Mother of all Budgets' doesn't hold high hopes for this year's one.

Chris Hipkins has already ruled out major tax changes and a levy to fund the Cyclone Gabrielle recovery, promising the upcoming Budget will be a 'no-frills' solution to tough economic times.

Former Finance Minister Ruth Richardson predicts that this year's Budget will be a dimmed-down version of more of the same.

"I think it'll be no solutions to what ails the economy. Which is- we lack earnings. We don't lack taxes, we lack earnings. The second thing that ails this economy is that we've got very dumb expenditure by the Government."

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