NZ government accounts surprise with surplus in first three months of the year

Thu, 03 Nov 2016

By Paul McBeth Nov. 4 (BusinessDesk) - The New Zealand government's accounts were unexpectedly in surplus in the first three months of the 2017 financial year, with the provisional tax take from companies tracking ahead of forecast. The operating balance before gains and losses was a surplus of $222 million in the three months ended Sept. 30, turning around a deficit of $545 million a year earlier, and ahead of the projected $503 million shortfall in the May budget projections. That was largely due to the 6.7 percent increase in taxation...

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