Larger surplus

A larger than forecast surplus has been announced by the Government.

This will help National with their budget in a couple of months, and shouldn’t do their election chances any harm, but do they usually announce 7 month results? Or are they just want to get a bit of good news out there?


BREAKING: Seven month surplus better than expected

Even the Government misuses ‘Breaking’.

The Government’s books are better than expected, with a $1.1 billion OBEGAL surplus for the seven months to January, Finance Minister Steven Joyce says.

“Stronger tax revenues as a result of a healthier economy are flowing through to the Government’s financial performance,” Mr Joyce says.

Tax revenues year-to-date are 3.8 per cent more than they were predicted to be in Budget 2016.

“Company tax in particular is higher than expected, and that reflects the good performance of New Zealand companies in what is still an uncertain world,” Mr Joyce says.

The $1.1 billion OBEGAL surplus compares to Treasury’s forecast of a $517 million surplus at the start of the fiscal year.

Core Crown expenses for the seven months to January were $234 million lower than the Budget forecast, reflecting the Government’s ongoing commitment to prudent spending.

Mr Joyce says that a number of variables made the final out-turn for the full financial year hard to predict.

“The biggest variable at this stage is the cost of the Kaikoura earthquake and how those are allocated between this year and next year,” Mr Joyce says.

“The good news is that this Government’s strong economic management means we can afford to step in to help these communities and support them when they are most in need.”

 

19 Comments

  1. PDB

     /  March 7, 2017

    PG: but do they usually announce 7 month results? Or are they just want to get a bit of good news out there?

    Normal – seven-month result announced last March as well….

    http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11599973

  2. Corky

     /  March 7, 2017

    If I was Andy I would fear the budget. Billy could bury any hope of the Left gaining power. So its my hope he presents a conservative budget with no jellybean’s thereby giving the Left hope.

  3. Blazer

     /  March 7, 2017

    ‘The good news is that this Government’s strong economic management’….laughable…..blind eye to foreign money laundering boosting the housing market,and a ludicrous work visa and immigration policy.Reckless and irresponsible govt.

    • Corky

       /  March 7, 2017

      Relax Blazer, you are going to be disappointed one way or another. Take up lawn bowls, grow roses and listen to the Labour Women’s Choir…oophs, they have disbanded. Sign of the times I guess.

      • Blazer

         /  March 7, 2017

        well at least you’re not voting for the Natz unless they bribe you….yes..

        • Corky

           /  March 7, 2017

          True. I may then do a 180…..I love Jelly Beans. They would go well with my recovering A2 shares. Hell, I bought those babes when they were worth 90 cents per share.

          • Blazer

             /  March 7, 2017

            hate to trump’ you as it were but I bought mine for 50c…sold some at 94,97,1.98,and still have a few.

            • Corky

               /  March 7, 2017

              Lol…I believe you…not. Socialists don’t by shares….and make money.
              Besides, why did you buy them? They aren’t ethical by socialist standards.

  4. Blazer

     /  March 7, 2017

    You don’t understand Socialism.There is nothing wrong with making money for productive enterprise.A2 as you know is not yet scientifically proven to aid digestion and lactose tolerance .A NZ company with IP in the agriculture sector that provided an investment opportunity was quite compelling to me,given that the personnel involved had integrity and expertise.Unlike the wide boys who deal in financial chicanery,pump and dump,over inflated IPO’s.Look at the backdoor listings track records and the over hyping of Pvt Equity IPO’s.After Feltex and Dick Smith along comes TGH ,failing to meet forecasts and languishing below launch price.PEB,VTL,MOA,and Sea dragon all sizzle and no sausage.Wynyard another travesty of rosy projections…..absolute farc the governance of listed companies in NZ.

    • Corky

       /  March 7, 2017

      Oh, I understand socialism…lie and try winning at all costs. That’s why socialists must be taught a lesson….sooner or later.

      • Blazer

         /  March 8, 2017

        Right wing voters really,really do not understand socialism.,you need a conscience to understand it.

  5. Geoffrey

     /  March 8, 2017

    If NZ is not continuing to incur debts of several billion per year, this was a ridiculously modest announcement. If on the other hand, it represents no more than the managed alignment of mid-flow columns of numbers, it is little more than the announcement of an alternative truth – kiwi style.

  6. ” … reflects the good performance of New Zealand companies in what is still an uncertain world,”

    Seems like a strange thing to create … an “uncertain world” …?

    ” … this Government’s strong economic management means we can afford to step in to help these communities and support them when they are most in need.”

    Ummm … Hello! What government could possibly afford NOT TO STEP IN …?

    • PDB

       /  March 8, 2017

      The govt in Venezuela can’t afford to ‘step in’ and help its people……….

      • Blazer

         /  March 8, 2017

        Nor can the NZ govt apparantly…..thats why the Natz have burdened us with an extra 100billion in debt in just 8 years.All part of a ‘brighter future’ for future generations…to pay back.

        • PDB

           /  March 8, 2017

          Another surplus on the cards Blazer in still very testing economic times – that bitter taste in your mouth is here to stay for the foreseeable future I’m afraid……..

          • Blazer

             /  March 8, 2017

            small change,accounting fudge.

          • Blazer

             /  March 8, 2017

            so a ‘Rock Star economy’=’testing times ‘ in your ….book…..too funny.You are an apologist for incompetence.

      • Your Compari-Venezuela ploy is a dead duck PDB … The U.S. made it so …

        Meantime, our government spends $16 million PER DAY servicing debt …