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AAP
AAP
Ben McKay

NZ government axes $7b in projects as forecasts worsen

Finance Minister Nicola Willis has banked $NZ7.5 billion in savings across the forward estimates. (Ben McKay/AAP PHOTOS)

The New Zealand government has scrapped more than $7 billion of Labour projects and plans, including cheaper childcare, as it undertakes a "fiscal repair job".

On Wednesday, Finance Minister Nicola Willis handed down a mini-budget alongside Treasury's half-yearly economic and fiscal update (HYEFU).

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