Wednesday, 28 February 2007

NZ gov't surplus: NZ$1,000,000,000 ahead of forecast

The New Zealand Government has recorded a budget surplus of NZ$4.4 billion for the second half of 2006, which was far higher than the forecasted surplus of NZ$3.4 billion. The government also has only NZ$423, 000,000, in debt, which was less than half the forecast NZ$860,000,000. Although the government said that tax collection and spending were in line with forecasts, the extra billion came primarily from miscellaneous sources.

That's 4.4 billion dollars the government could've saved taxpayers in tax cuts.

No comments: