Government deficit $1.1b smaller than expected

(Image: Getty)

Thu, 25 Jan 2024

The government’s operating deficit for the year to date is $1.1 billion smaller than was forecast in the December half-yearly fiscal and economic update but is slightly bigger than for the same period last year.The government’s balance sheet saw favourable returns for the New Zealand Superannuation Fund (NZSF), offset by increases in the valuation of liabilities for Accident Compensation Corp (ACC) claims and the emissions trading scheme.Net debt was $1.8b or 2.1% lower than forecast but was $12b higher than a year ago.Tax take high...

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