MIDDAY UPDATE: Crown books looking decidedly black

Wed, 08 Jul 2015

By Paul McBeth July 8 (BusinessDesk) - The government's books may yet reach surplus in the 2015 financial year, with the 11-months through May showing a bigger operating surplus than anticipated, with a fatter corporate tax take helping buff up the coffers. The operating balance before gains and losses (Obegal) was a surplus of $1.18 billion in the 11 months ended May 31, compared to a forecast surplus of $193 million, and a turnaround from last year’s deficit of $1.1 billion. Tax revenue rose 8.4 percent to $61.24 billion in the 11-month...

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