Govt coffers still swelling, just not as fast

Govt coffers still swelling, just not as fast
It's almost budget time. (Image: Getty)
Staff reporters
The pace of growth in the government’s swelling tax coffers continued to slow in March, with the expected increases in corporate taxes and GST not quite eventuating. Core tax revenue rose 6.4% to $83.62 billion in the nine months ended March 31, primarily due to the nation’s low unemployment rate and rising wages driving up income tax by 11.4% to $35.08b, and the rapid pace of inflation meaning the government clipped a bigger ticket on goods and services, with goods and services tax (GST) up 8.9% to $20.87b. Still, that ca...

More Economy

Tourism industry struggles to keep up
Economy

Tourism industry struggles to keep up

Where to for NZ tourism in the long-term after NZ is done with its Briscoes-style sale?

RBNZ plans more cuts sooner rather than later
Economy

RBNZ plans more cuts sooner rather than later

The forecasts show the low at 3.1% by December this year. 

Rebecca Howard 19 Feb 2025
RBNZ eases by 50bps and brings forward planned rate cuts
Economy

RBNZ eases by 50bps and brings forward planned rate cuts

It now expects the cash rate to reach 3.1% in December. 

Rebecca Howard 19 Feb 2025
Banking inquiry must address regulatory governance
Economy

Banking inquiry must address regulatory governance

Regulatory governance to blame for uncompetitive bank sector, experts say.

John Anthony 18 Feb 2025