NZ govt's 6-month deficit wider than expected, income tax-take shows signs of improving

Thu, 18 Feb 2016

By Paul McBeth Feb. 19 (BusinessDesk) - The New Zealand government's operating deficit was wider than anticipated at the half-year mark as some financial instruments didn't deliver the expected revenue, though income tax showed signs of rising with an improving labour market. The operating balance before gains and losses (obegal) was a deficit of $889 million in the six months ended Dec. 31, more than the $797 million shortfall forecast in the December half-year economic and fiscal update, though smaller than the $990 million deficit rep...

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