Two-thirds or so of the way through the Government's financial year the tax take is $1.1 billion below forecast.

The Treasury would have liked more "Mum and Dad" small investors to have bought shares in electricity generators Mighty River Power and Meridian Energy.

As the Crown's balance sheet approaches a quarter of a trillion dollars, managing those assets and the risks is becoming more important, says the Treasury.

Treasury is questioning the way the Crown manages its assets, suggesting state ownership of social assets may not be the most efficient use of government money.

A former chief executive of Bluechip and director Viaduct Capital Nick Wevers has died and criminal charges filed against him have now been withdrawn.

The Government books are on track to deliver the promised surplus in 2014 - 15 but at $86 million, still a very small one, despite improvements in the economy.

Political correspondent John Armstrong spoke to Treasury's head about how he is changing the department's culture ahead of the release of its long-term fiscal projections.

The New Zealand government posted a smaller operating deficit than forecast in the 11 months ended May 31.

Well-connected lobbyists Saunders Unsworth worked with Solid Energy, Treasury and Cabinet Ministers to thwart questions about the company's problems.

An independent review of events leading to Solid Energy's near-collapse has raised questions over Treasury's response to early warning signs of trouble.

Editorial: Naturally enough, the Government was keen to put the entire blame for what happened on "politicking" by Labour and the Greens.

The New Zealand government had a smaller operating deficit than expected in the first eight months of the financial year as it took in more income tax than it had forecast.

Prime Minister John Key has denied that the Solid Energy crisis and Telecom job cuts are a black mark against the Government's handling of the economy.

Solid Energy is in crisis, with a Government bailout almost inevitable, mine closures possible and further job cuts likely in another restructure to try to salvage it.

The New Zealand government had a smaller than expected first-half operating deficit after Treaty of Waitangi settlement costs didn't eventuate in the period.

New Zealand labour costs rose in the final three months of 2012 as the gathering pace of Canterbury's reconstruction effort saw the building and construction sector underpin gains.

A month after releasing new budget forecasts, the New Zealand government is tracking above them.