English warns 2014-15 Budget surplus will be small, volatile

Mon, 11 Nov 2013

Nov. 11 (BusinessDesk) – The forecast Budget surplus for the year to June 30 2015 will be small and exposed to the influence of even small changes in the value of some government liabilities, particularly government bonds, says the Minister of Finance, Bill English. Speaking at Prime Minister John Key’s post-Cabinet press conference this afternoon, English said the accounting treatment of items such as interest on government bonds could prove sufficient to wipe out gains in other areas. “The impact of greater tax revenue or lower benefits ca...

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