NZ government operating deficit smaller than expected as tax take swells in December

Thu, 19 Feb 2015

By Paul McBeth Feb. 20 (BusinessDesk) - The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. The operating balance before gains and losses (Obegal) was a deficit of $990 million in the six months ended Dec. 31, smaller than the $1.37 billion shortfall forecast in the December half-year economic and fiscal update, and down from a deficit of $1.79 billion...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
NZ sharemarket rebounds with Wall Street rally
Dan Brunskill | Mon, 27 Jun 2022

US markets rallied on Friday night as traders began thinking an economic slowdown would stop the US Federal Reserve from hiking interest rates.

Policy
Political donations over $5k to require declaration
Staff reporters | Mon, 27 Jun 2022

The changes require disclosure of donor identities for any party donations over $5,000 versus the current $15,000. 

Law & Regulation
Public class action fund needed: Law Com
Victoria Young | Mon, 27 Jun 2022

The Law Commission has finalised its report into class actions and litigation funding.

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.