NZ govt deficit in line with forecast as income, company tax offset lower GST

Thu, 06 Nov 2014

By Paul McBeth Nov. 7 (BusinessDesk) - The New Zealand government's operating deficit was in line with pre-election forecasts as company and income tax came in ahead of expectations, offsetting the lower domestic consumption which has been weighing on GST. The Crown's operating balance before gains and losses (Obegal) was a deficit of $725 million in the three months ended Sept. 30, slightly smaller than what Treasury predicted in its truncated September pre-election economic and fiscal update, it said in a statement. That's smaller than...

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