Govt accounts unexpectedly in the black as lumpiness continues

Fri, 17 Jan 2020

The government’s accounts were unexpectedly in the black in the first five months of the fiscal year, as the lumpy tax take remained hard to predict.The operating balance before gains and losses was a surplus of $129 million in the five months ended Nov. 30, smaller than the $264 million surplus of a year earlier, but an improvement on the $554 million deficit forecast in the December half-year economic and fiscal update.The total tax take was up 8.5 percent at $35.7 billion from a year earlier, and was 1 percent higher than forecast. Governmen...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Primary Sector

Ruminant Biotech closes $17 million series A raise

The agritech start-up plans its commercial launch in NZ and Australia next year.

Greg Hurrell 8:35am

Infrastructure Exclusive

Draft approval clears way for OceanaGold expansion

The Waihi North Project is the first mine set to be approved under the fast-track law.

Garth Bray 7:30am

Draft approval clears way for OceanaGold expansion

Infrastructure

Port ownership up for debate

Regional council assets, including NZX-listed ports, to be questioned in council reforms.

Thomas Manch 5:00am

Sponsored

Spark Accelerate: Are you ready for exponential AI growth?

Spark

Sponsored

Cybersecurity skills gap leaving Kiwi businesses at risk - report

A cybersecurity skills shortage is creating additional cyber risks, according to a new global report.

Fortinet

More Economy

Economy Analysis

The journey to monetary policy consensus at the RBNZ

The whole process takes about two weeks.

Rebecca Howard 5:00am

Economy

Co-operative Bank remediates thousands of customers

Co-operative Bank has remediated a total of $7.2 million across almost 50,000 customers for charging higher fees than it should have and may yet have to pay a court-imposed fine.The Commerce Commission said the charging of higher fees breaches the Credit Contracts and Consumer Fi...

Andy Macdonald 25 Nov 2025