23 Jan 2015

Tax, government spending lower than forecast

12:51 pm on 23 January 2015

The Government's tax take is still lower than forecast according to latest financial statements, but so too is its spending.

In the five months to the end of November, the Government recorded a deficit of $1.5 billion - $121 million lower than forecast in the December economic and fiscal update.

Tax income for the five months was almost $100 million lower than forecast in December.

But government spending was also $67 million lower while other income from customs and exise duties was up.

Income from Crown entities and State-owned enterprises also helped ensure the deficit - once investment gains and losses had been removed - was lower than expected.

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