Finance Minister Bill English reading his Budget 2015. Photo / Mark Mitchell
The "El Dorado" for Bill English, reaching operating surplus, has been pushed out for a year to 2015-16 but it is forecast to be a razor-thin $176 million.
It rises to $1.47 billion in 2016-17 and $1.99 billion in 2017-18 when the Budget says the Government will again start cutting
income tax.
Since 2011, Mr English's Budgets have forecast the surplus for 2014-15.
But falling dairy prices and virtual zero inflation has meant Government revenues have increased more slowly than expected.
Mr English gave notice this month that yesterday's opening of the books would definitely not post the surplus which this time last year was forecast to be $372 million.