NZ govt books back in the red in first three months of 2016 year, tax take beats estimate

Thu, 05 Nov 2015

By Paul McBeth Nov. 6 (BusinessDesk) - The New Zealand government's books were back in the red in the first three months of the 2016 financial year, though a bigger-than-expected tax-take and smaller workplace insurance liability meant the deficit was below forecast. The operating balance before gains and losses (obegal) was a deficit of $545 million in three months ended Sept. 30, below the $798 million shortfall forecast in the May budget, and an improvement on the $725 million deficit a year earlier, according to the government's finan...

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