Govt's 7-month surplus bigger than expected on corporate tax take

Mon, 06 Mar 2017

By Paul McBeth March 7 (BusinessDesk) - The government's seven-month operating surplus was more than twice the expected size as the government pulled in a bigger tax take from companies while uncertainties over the cost of the Kaikoura earthquake kept expenses below forecast. The operating balance before gains and losses (obegal) was a surplus of $1.15 billion in the seven months ended Jan. 31, ahead of the $442 million surplus predicted in the half-year economic and fiscal update and more than the $934 million a year earlier. Tax rev...

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