Massive $7.5 billion surplus shows room for tax cuts and spending - News Summed Up

Massive $7.5 billion surplus shows room for tax cuts and spending


The Government has taxed its way to its biggest surplus in a decade, finding itself $7.5 billion in the black. And comments today from Finance Minister Grant Robertson appear to show the Government beginning to heed calls for more spending. ROSA WOODS/STUFF Finance Minister Grant Robertson presents the 2019 Budget. Aside from the re-evaluation of KiwiRail and IRD's tax collection, the surplus is largely thanks to a higher than expected tax take. Tax revenue was up across the board, with Treasury booking more than $2 billion more than it forecast at the budget in May.


Source: Stuff October 08, 2019 00:00 UTC



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