Progressive leader Jim Anderton says the budget is one of the worst he has seen and shows the Government has no idea how to fix the economy.
The Government intends that the Budget will return the country to surplus a year earlier than forecast in last year's Budget.
To help that happen, cuts are being made to KiwiSaver, Working for Families and interest-free student loans.
The Government has also confirmed it will proceed with the partial privatisation of four state-owned energy companies.
Mr Anderton said the Budget did nothing to address unemployment, lift incomes or build a stronger future.
He said Mr Key promised tax cuts that everyone would share in, and that these would help New Zealand catch up with Australia, but the Government had failed on every one of its own targets.