Bigger profits and spending bolster govt tax take

Bigger profits and spending bolster govt tax take
Paul McBeth
The government’s books are still in good shape with the first update of 2021 showing the tax take from consumer spending and company profits was better than expected.Core Crown tax revenue rose 5.3 percent to $37.58 billion in the five months ended Nov. 30, some $699 million more than Treasury officials forecast in December. That was due to GST returns rising 9.8 percent in the period compared to a year earlier, and the corporate tax take rising 7.2 percent from a time before the pandemic.At the same time, government spending was $546 mil...

More Economy

New gig for former RBNZ governor Adrian Orr
Economy

New gig for former RBNZ governor Adrian Orr

Orr abruptly quit the RBNZ last March. 

Rebecca Howard 15 Jul 2025
Services sector stuck in reverse
Economy

Services sector stuck in reverse

The combined PSI and PMI is supportive of further RBNZ rate cuts.

Rebecca Howard 14 Jul 2025
August RBNZ rate cut beckons but not a done deal
Economy

August RBNZ rate cut beckons but not a done deal

It will all come down to how the data pan out. 

Rebecca Howard 10 Jul 2025
RBNZ hits pause but keeps future rate cuts on table
Economy

RBNZ hits pause but keeps future rate cuts on table

It was the first pause since August last year when the official cash rates were at 5.5% 

Rebecca Howard 09 Jul 2025