On track to surplus

A further improvement in government tax revenue left the operating deficit before gains and losses $763 million smaller than forecast in the 11 months to 31 May, Finance Minister Bill English says.

“The improving economy suggests this lift in tax revenue is likely to remain through until the end of the financial year on 30 June,” Mr English says. “With the Government having locked in its spending track for the next few years, this pick up in revenue, as the economy and company profits improve, is flowing through into the Government’s books.

“This is a positive sign and confirms that the Government remains on track to return to surplus in 2014/15, so we are in a position to have choices about repaying debt and investing more in public services.” . . .

budget

 

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