NZ govt operating deficit smaller than forecast on higher personal tax take, customs duties

Thu, 05 Dec 2013

By Paul McBeth Dec. 6 (BusinessDesk) - The New Zealand government posted a smaller operating deficit than expected in the first four months of the financial year as it reported a bigger personal tax take and reaped more from customs duties on imported tobacco. The Crown’s operating balance before gains and losses (obegal) was $1.75 billion in the four months ended Oct. 31, smaller than the $2.14 billion forecast in the May Budget economic and fiscal update, and down from a shortfall of $2.87 billion a year earlier. Treasury is scheduled to...

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