NZ govt shunts out return to surplus to 2016 as tax take misses expectations

Tue, 16 Dec 2014

By Paul McBeth Dec. 16 (BusinessDesk) - The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. The Treasury expects the Crown's operating balance before gains and losses to be a deficit of $572 million in the year ending June 30, 2015 before tur...

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