The government’s books are 'not immune to a cooling economy'

Finance minister Grant Robertson's balancing act is bit more difficult. (Image: Getty)

Thu, 08 Jun 2023

New Zealand’s operating balance deficit before gains and losses deficit was wider than expected as corporate taxes came in lower than forecast.“Overall, the April 2023 financial results show that most key fiscal indicators were weaker than expected, primarily reflective of the tax outturn for the month,” Treasury said.Meanwhile, finance minister Grant Robertson added the "government’s books are not immune to a cooling economy".The Obegal was a deficit of $7.0 billion, $1.3b greater than the forecast deficit of...

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