Articles tagged Government accounts

Finance Minister Grant Robertson has indicated that billions of dollars has been unlocked for this Budget and subsequent Budgets because a growing economy and various policy tweaks have given the Government $2.3 billion a year of headroom, and nominal GDP is growing quickly.

Treasury reported the Government's surplus was $910 million better than expected in the nine months to March 2018, largely because solid economic growth drove higher corporate tax receipts, higher income taxes and higher GST receipts. Treasury said tax revenues were $1.1 billion better than it forecast in December and this was expected to hold for the rest of the financial year.