Weak NZ inflation dims prospects of year-end accounts showing 2015 surplus, English says

Thu, 09 Apr 2015

April 10 (BusinessDesk) - Finance Minister Bill English says next month's budget forecasts will reflect the weaker track of inflation, which erodes tax revenue and is making it less likely the government will achieve a surplus this year. The Crown accounts turned to a deficit of $269 million, on an operating balance before gains and losses (Obegal) basis, in the eight months ended Feb. 28, compared to a surplus of $77 million in the seven months through January, the Treasury said today. The February accounts show goods and services tax ca...

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