NZ govt operating surplus pips pre-election forecast as corporate profits swell tax take, spending delays

Wed, 04 Oct 2017

By Paul McBeth Oct. 5 (BusinessDesk) - The New Zealand government's annual operating surplus was a little bigger than projected in the pre-election forecast as fatter corporate profits helped swell the Crown's tax take and as some spending was put off. The operating balance before gains and losses (obegal) was a surplus of $4.07 billion in the 12 months ended June 30, ahead of the $3.71 billion forecast in the pre-election fiscal and economic update, and widening from $1.83 billion a year earlier. Core Crown tax revenue was largely in li...

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