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Source: ONE News
A group of Auckland retailers says consumers are keeping their hands in their pockets in the lead up to the budget.
The Newmarket Business Association says the May budget is lining up to be the most significant in 20 years because of proposed changes to tax laws, GST and personal tax rates.
General manager Cameron Brewer says everyone is set to be affected by it so people are taking a wait and see approach.
He says figures just out from Paymark and Statistics New Zealand show core spending has been soft for February.
Brewer says we put the recession to bed last year but it seems consumers can't shake off the hangover.
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