Government debt is up, and income is down, but tax cuts still seem to be on the way.

Treasury released the Crown accounts today, showing an operating deficit 92 million higher than forecast, and core Crown revenue 171 million lower than forecast, but the Finance Minister says it's only for the short term.

Bill English is hinting the result won't stop them rolling out the promised tax cuts.

"When we've been running fairly tight controls for 7 or 8 years now we have to make sure we can pick those areas where there is some real pressure, that might need a bit more spending."

Bill English said he's not fazed by it, as they're more focused on what they can control, which is reducing spending.

"And that is trying to make sure that we fix the problems like get more kids through NCEA level two, has less prisoners reoffending."