• Full Story

Govt revenue, tax take lower than forecast

Email
Print

Mon, 20 Feb 2012 10:35a.m.

Finance Minister Bill English

Finance Minister Bill English

Government revenue in the six months to December 31 was $743 million lower than forecast, Treasury accounts released on Monday show.

Tax revenue was $400m less than anticipated, with GST $234m below forecast.

The deficit stood at $9.5 billion, which was $2.6bn higher than forecast.

Treasury says this was mainly due to actuarial losses on the Government Superannuation Fund, outstanding ACC claims and higher than forecast investment losses.

NZN

Become a fan of 3 News on Facebook and on Twitter.

Post a Comment

Before commenting, please take the time to read our moderation guide


(Won't be published)



Comments

20 Feb 2012 01:15p.m.

aj wrote:

Its a shame that the people cannot demand key and english
to step down and a care-taker govt to take over until an
early election,nz simply cannot afford to keep these two
running the economy,they have no idea and no ability.

20 Feb 2012 11:32a.m.

rf wrote:

No surprises there then,cgt anyone.

20 Feb 2012 11:10a.m.

bOb wrote:

It would be great for once if a responsible government kept taxs at a decent level to collect enough revenue and didn't get carried away and over spend when ever they are in the black. Nothing wrong with a bit of public slashing where its needed but all these tax breaks are taking another step back and keeping us in the red with out any real gains in reducing unemployment and our deficit. Its the same all over the world theres no doubt services need to be cut but taxs also need to be increased as well to dig oneself out of debt. This "if we lower taxs enough it will fix everything" hasn't worked here or in other countrys for decades yet special interest groups keep on pushing it for their own selfish short germ gain.

20 Feb 2012 10:50a.m.

Bruce wrote:

Bill, its just a guess, English is proving to be quite a noggin with his guesses. His guesses are costing the country a fortune. More excuses from the Looney Nats.. About time they just admit.Its about time they took responsibility, as they are continually preaching.