Post lockdown spend-up drives $1.1 billion boost to Crown accounts

Share This Post

(nzherald.co.nz)

New Zealanders who went on a spending spree after the August lockdown have helped boost the Government’s tax take, putting Crown Accounts more than $1 billion ahead of where they were forecast to be.

Treasury this morning confirmed that the Government’s financial position continued to track ahead of forecasts for the year to December 31.

The accounts still show the severe scars of the pandemic.

For the full 2020 year to December 31 the Crown had an operating balance before gains and losses (OBEGAL) deficit of $4 billion and net core Crown debt of $104.5 billion (32.6 per cent of GDP).

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Do You Want To Boost Your Business?

drop us a line and keep in touch

Scroll to Top