Scoop has an Ethical Paywall
Licence needed for work use Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Government maintains surplus in Crown accounts


The Coalition Government continues to manage the books carefully, with a surplus in the latest set of accounts.

The Crown financial statements show a surplus of $2.5 billion in the operating balance before gains and losses for the nine months to 31 March 2019. The result is $329 million higher than the Treasury forecast in December 2018.

“It’s important we continue to manage the books well in the face of softening global growth and international volatility,” Grant Robertson said.

“I heard first-hand at the IMF/World Bank meetings in Washington earlier this month about the uncertainty caused by issues like the US-China trade dispute and Brexit.

“The Wellbeing Budget in May will outline the next steps in the Government’s plan to grow and support the economy, particularly given the international situation.”

These are the last monthly Crown financial statements to be released before the Budget on 30 May.

The accounts show core Crown expenses were within 0.9% of the Treasury’s forecast over the past nine months, while core Crown revenue was within 0.7% of the forecast.

Net core Crown debt sat at 20.6% of GDP at 31 March, compared to the 20.9% expected.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On National Spreading Panic About The Economy


It is a political strategy as old as time. Scare the public with tales of disaster and stampede them into supporting your ideological agenda because they believe There Is No Alternative. Yet, if the NZ economy truly is as “fragile” as PM Christopher Luxon says it is... Then how come New Zealand has enjoyed a double AA+ credit rating from the international rating agencies for so long? If we have truly been in the thrall of incompetent tax, spend and borrow extremists for the past six years, how come our net government debt burden is only in the middling average of OECD countries, and how come our government debt-to-GDP ratio – however you measure it – is less than half the average for the Asia-Pacific region?..
More


 
 


Labour: Grant Robertson To Retire From Parliament
Labour List MP and former Deputy Prime Minister and Minister of Finance Grant Robertson will retire from Parliament next month, and later in the year take up the position of Vice Chancellor of the University of Otago... More

Government: Budget Will Be Delivered On 30 May

Plans to deliver tax relief to hard-working New Zealanders, rebuild business confidence, and restore the Crown’s finances to order will be unveiled on 30 May, says Nicola Willis... More

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.