The Government took in $1.57 billion less tax than expected in the first nine months of the fiscal year, reflecting a tepid economy, Treasury figures show - reflecting what the Finance Minister says has been a 'difficult year'.
The Crown took in $39.8 billion in tax in the nine months ended March 31, against a forecast in the Pre-election Economic and Fiscal Update estimate of $41.3 billion, according to the government's financial statements.
Core Crown spending was $1.75 billion below forecast at $50.99 billion, which the Treasury said reflected revenue variances and spending delays.
The operating balance before gains and losses (OBEGAL) was a deficit of $6.13 billion, or $800 million more than forecast.
Can the Government return the budget to surplus by 2014-15? Here is the latest selection of Your Views:
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Provincial Curmudgeon says"Not by cutting expenditure - that way lies an ever increasing spiral dwnwards. He has to increase the tax take from those best able to withstand it."
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Small govt is good says"Of course they can. Just means they have to stop spending more than they make just like everyone else does when faced with a crisis."
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