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Source: ONE News -
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From April 1 most people will be taking home extra cash in their pay packets as a result of tax cuts.
But while more money in the pocket offers relief from the doom and gloom, many people are underwhelmed.
The cuts are meant to provide an economic stimulus by boosting household spending but for most wage earners the extra money is not expected to make a significant difference.
If you are on $100,000 you will get an extra $24 a week, between $50,000 and $70,000 it will be $18 more, $45,000 will get you an additional $11 but if you are on less than $40,000 you get nothing.
Economist Gareth Morgan doesn't believe the tax cuts will make any difference to the economy.
"No, in the scheme of the spending programmes going on the drop in the revenue, this is nothing," says Morgan.
"I think we need a little bit of money still flowing around, we don't want it all stopping."
Labour has criticised the cuts for not helping low income earners who need to qualify for the independent earners credit to get an extra $10 a week.
And Prime Minister John Key has told income earners who don't need the cuts to give them to charity.
It remains to be seen if anyone has enough spare cash to follow his cue.
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