BUDGET 2016: Population-driven GDP growth helps English project rosier outlook, fatter surpluses

Thu, 26 May 2016

By Jonathan Underhill May 26 (BusinessDesk) - Finance Minister Bill English has unveiled a rosier set of fiscal projections as the fastest population growth in 40 years drives economic growth and tax revenue, giving him room to spend more on health, law and order, and education while forecasting fatter surpluses. The Budget forecasts a $700 million surplus this fiscal year, on an operating balance before gains and losses (Obegal) basis, a $1.1 billion turnaround from the Treasury’s forecast in December. Over the five years through until 2...

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