Caution from the Finance Minister when it comes to the question of tax-cuts.

Bill English said on the positive side, the dairy industry, tourism and exports are up.

But he said on the other hand, we've just had the earthquake, big pressures in Defence and the prison system and rebuilding schools.

MORE: Key hints at a tax package targeting families, but earthquakes could see a delay

Bill English told Mike Hosking we have to see how the numbers shake out.

"You have to be a bit careful here, particularly when we have with the earthquake a lot of costs that won't be apparent now."

Bill English said any tax cuts and family package would come into place some time next year.