Rail revaluation bolsters Crown 2019 accounts as tax take swells

Rail revaluation bolsters Crown 2019 accounts as tax take swells
Paul McBeth
The government's annual accounts were healthier than predicted, due in large part to a $2.6 billion reversal in earlier writedowns to the value of the rail network, and a bigger tax take.  The operating balance before gains and losses (obegal) was a surplus of $7.5 billion in the 12 months ended June 30, from a surplus of $5.5 billion a year earlier and well above the $3.5 billion predicted in the 2019 budget forecasts. The nation's 3,700 kilometre-rail network is now being valued on a public benefit basis rather than a commercial for-profit...

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Staff reporters 04 Jul 2024