Reports last week revealed that the government of New Zealand found itself in the fortunate position once again of collecting more tax than expected.
Citing figures for the quarter just ended, the New Zealand Herald on Friday announced that in the three months ending September, government expenditure was lower than expected at $273 million, and tax revenues were $358 million higher than forecast, 'largely reflecting greater than anticipated corporate and goods and services tax takes', according to the newspaper.
The Treasury Department recently forecast an end of year surplus of some $2.2 billion, explaining that it expects the current strength in tax revenue to continue for the rest of the year.
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