Govt books to remain in red for longer

Finance Minister Nicola Willis (Image: NZME)

Tue, 17 Dec 2024

Weaker growth and lower tax revenue mean the Government’s books will be back in the black in the year a year later than previously forecast, in June 2029, according to its new indicator.“Core Crown tax revenue is forecast to be $13 billion lower over the four-year forecast period, delaying our intended return to surplus under the new operating balance measure by a year,” said Finance Minister Nicola Willis at a media briefing for the Half Year Economic and Fiscal Update.ObegalXThe government has adopted a new financial indicat...

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