Govt collected more tax but paid more interest to November

Grant Robertson said net debt was below the government's 30% ceiling and among the lowest in the OECD. (Image: NZME)

Thu, 26 Jan 2023

The government collected $78 million more tax than forecast for the five months ended November while its expenses were up $742m on forecast, reflecting rising interest rates.The government’s operating deficit for the five months, which excludes gains and losses on government-owned assets, came in at $2.44 billion, compared with Treasury’s $2.5b forecast.Finance minister Grant Robertson noted that the deficit was down from $5.9b in the same five months of 2021.“The government knows that the cost of living is top of mind for New...

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