No one is likely to be completely satisfied with next week's Budget

The public sector cutbacks have been continuing in the past 24 hours, with MSD confirming it's now cutting more than 700 roles and DOC confirming it will have more than 120 fewer staff.

Finance Minister Nicola Willis says more spending cuts will be neccessary, due to the ongoing structural deficit.

Former Finance Minister Steven Joyce says Willis is in a very tight position, with very little room to move.

He says the people arguing for major cutbacks to public expenditure won't think it goes far enough, those wanting more funding for public services won't be satisfied, and many households won't get the tax cuts they were hoping for.