Tax take bolstered by a bigger slice of PIE

Thu, 01 Jul 2021

The government’s operating deficit was smaller than expected as the crown’s coffers were bolstered by strong returns on people’s investment portfolios and the continued resilience of the labour market.The operating balance before gains and losses was a deficit of $3.64 billion in the 11 months ended May, smaller than the $9.45b forecast in the May budget and a vast improvement on the $15.97 billion deficit a year earlier when the government pumped out funds to keep people in their jobs.The government’s tax take rose 12.7...

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