NZ govt sees wider deficit in 2014 on ACC levy cut, lower SOE profits

NZ govt sees wider deficit in 2014 on ACC levy cut, lower SOE profits
By Paul McBeth Dec. 17 (BusinessDesk) – The New Zealand government faces a wider operating deficit in the current financial year than previously predicted due to cuts to Accident Compensation Corp levies and smaller returns from state-owned enterprises, though its wafer-thin 2015 surplus is seen as getting a smidgeon bigger. The Half Year Economic and Fiscal Update forecasts a wider shortfall in the operating balance before gains and losses (obegal) in the 2014 financial year of $2.3 billion, compared to $2 billion predicted in the May budg...