Govt books still in check as growth seen slowing

Govt books still in check as growth seen slowing
Paul McBeth
Slightly slower economic growth and increased capital spending barely shifted the dial in the half-year outlook for the government’s accounts.                                                  Treasury officials trimmed their forecast for annual economic growth to 2.2 percent for the year ending June 30, down from the 2.4 percent forecast at the Budget in May. Growth is then seen rising to 2.8 percent in the 2021 year, before slowing to a pace of 2.4 percent in 2024, a slightly smaller peak than expected in May. That slowing pace of growth...

More Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception
Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception

The New Zealand Institute of Economic Research’s Shadow Board expects the Reserve Bank of NZ to hold the official cash rate at 5.5% for another year, although one member did call for a hike this week. “While inflation pressures are still high and the labour market remains strong,...

Rebecca Howard 08 Jul 2024
RBNZ could hint cuts may come sooner
Economy

RBNZ could hint cuts may come sooner

The RBNZ will announce its latest decision at 2pm on Wednesday. 

Rebecca Howard 08 Jul 2024
Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024