Financial Statements of the Government
Financial Statements of the Government of New Zealand for the 7 months ended 31 January 2018
7 March 2018
Embargoed until 10.00am, Wednesday 7 March 2018
Paul Helm, Chief Government Accountant
The Financial Statements of the Government of New Zealand for the seven months ended 31 January 2018 were released by the Treasury today. The statements are compared against forecasts based on the 2017 Half Year Economic and Fiscal Update (HYEFU 17) published on 14 December 2017.
Core Crown tax revenue was $44.8 billion for the seven months to 31 January 2018.
Overall core Crown tax was higher than expected by $0.9 billion, with source dedications and GST above forecast by $0.3 billion each, as the levels of employment and residential investment were above forecast. Customs and excise duties were also above forecast by $0.2 billion, as the tobacco duties seasonal peak was larger than expected. Much of this variance can be expected to remain until year end...