NZ govt operating deficit smaller than forecast as investment tax take climbs

Thu, 07 Mar 2013

By Paul McBeth March 8 (BusinessDesk) - The New Zealand government had a smaller operating deficit than expected in the first seven months of the financial year as the tax take on investments gained on the rally in stock markets, and higher income workers made up for falling job numbers for the lower paid. The operating balance before gains and losses (obegal) was a deficit of $2.51 billion in the seven months ended Jan. 31, 19 percent smaller than forecast in the December half-year economic and fiscal update, according to the Crown's latest...

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