NZ govt operating deficit bigger than expected on lower corporate tax take, GST

Thu, 23 Jan 2014

By Paul McBeth Jan. 24 (BusinessDesk) - The New Zealand government’s operating deficit was bigger than expected in the first five months of the financial year after it reported a smaller take in corporate taxes and goods and services tax than it anticipated a month ago in its updated forecasts. The Crown’s operating balance before gains and losses (obegal) was a deficit of $2.34 billion in the five months ended Nov. 30, more than the $1.93 billion forecast in its Dec. 17 half-year economic and fiscal update, and down from $3.03 billion a year...

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