Source: Radio New Zealand
Treasury figures show the government’s finances are in better shape than expected. RNZ
The government’s finances are in better than expected shape as spending has fallen while the tax take is steady.
Treasury figures, which exclude ACC finances, show a deficit of $6 billion for the seven months ended January, about $1.9b below the December half year forecast.
The deficit including ACC costs was $6.5b, also well below forecast.
The tax take was fractionally lower as dips in company, investment and tobacco charges, were offset by higher income tax receipts.
Expenses were more than a billion dollars lower, as IRD clawed back unpaid tax, spending on core government services, health and environment programmes were lower.
Net debt was slightly lower than expected at 41.9 percent of the value of the economy.
… More to come
– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
