Finance Minister English says government lacks 'tailwind of inflation' to drive big surpluses

Wed, 09 Dec 2015

By Jonathan Underhill Dec. 9 (BusinessDesk) - The New Zealand government lacks the "tailwinds" of inflation that have helped drive tax revenue and fill the Crown coffers in previous economic cycles, meaning budget surpluses are likely to be smaller and there won't be an opportunity for a big "spend-up," Finance Minister Bill English says. English delivered an operating surplus before gains and losses (obegal) of $414 million in the 12 months ended June 30, having projected a deficit of $684 million in the May budget, turning around a shor...

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