INDEPENDENT NEWS

Govt’s Balanced Economic Approach Reflected In Crown Accounts

Published: Thu 4 Mar 2021 10:58 AM
New Zealand’s economic recovery has again been reflected in the Government’s books, which are in better shape than expected.
The Crown accounts for the seven months to the end of January 2021 were better than forecast in the Half Year Economic and Fiscal Update (HYEFU).
The operating balance before gains and losses (OBEGAL) deficit at $4.4 billion was $2.9 billion better than forecast in the HYEFU. Tax revenue was $53.6 billion, $1.8 billion above the HYEFU forecast.
“This result reflects the continued strength of current economic conditions. The improved revenue will be considered for the upcoming 2021 Budget Economic and Fiscal Update,” Grant Robertson said.
Core Crown expenses were $60.9 billion, $0.5 billion below forecast.
Net core Crown debt was 31.3% of GDP, $3.1 billion less than forecast.
“Our careful management of the Government accounts has meant we are in a good position to respond financially to alert level rises such as those we are currently experiencing.
“We are taking a balanced approach to managing the economy and keeping New Zealanders safe from COVID-19 and we will continue that approach.
“It’s important to this Government to protect our people and rightly share the financial burden with employers while we also provide support to those who need it the most,” Grant Robertson said.

Next in New Zealand politics

Government To Phase Out Live Exports By Sea
By: New Zealand Government
New Zealand’s New Housing Policy Is Really Just A New Tax Package — And It’s A Shambles
By: The Conversation
Emissions Report Shows Urgent Action Needed
By: New Zealand Government
ACC’s Policy Of Not Covering Birth Injuries Is One More Sign The System Is Overdue For Reform
By: The Conversation
Police Accept Findings Of IPCA Report Into Photographs Taken At Checkpoint
By: New Zealand Police
Drug-testing Law To Be Made Permanent
By: New Zealand Government
Emotive Live Export Ban A Kick In The Guts
By: ACT New Zealand
World Leading Live Export Ban Means Thousands Of Animals Will No Longer Suffer Overseas
By: SAFE NZ
Feds: Live Export Ban 'surprising'
By: Federated Farmers
NZ Becomes First In World For Climate Reporting
By: New Zealand Government
Photographs Taken At Police Checkpoint Unlawful
By: Independent Police Conduct Authority
View as: DESKTOP | MOBILE © Scoop Media