Flat wages, inflation lean on govt books with slimmer tax take

Tue, 15 Dec 2015

By Paul McBeth Dec. 15 (BusinessDesk) - New Zealand’s tepid inflation and lack of wage growth will lean on the government’s book over the next couple of years with a slimmer tax take than previously thought. The Treasury expects the Crown’s operating balance before gains and losses (obegal) will slip back into deficit in the 2016 financial year before returning to smaller surpluses than earlier forecast as a taxes fail to pick up in an environment where a slump in oil prices and a persistently strong kiwi dollar keep inflation stagnant, a...

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