30 Apr 2019

Government books show $2.5 billion surplus

1:21 pm on 30 April 2019

The government's books are in better shape than expected.

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Photo: 123rf

Official numbers for the nine months ended March show a budget surplus of $2.5 billion, which is $300 million above forecast.

The tax take was down about half a billion dollars on expectations because of reduced GST and company tax returns.

But that was offset by expenses also being below forecast.

The government has forecast a surplus of $1.75b for the full year ended June.

The debt level was close to expectations.

The accounts confirm the government living within its self imposed budget responsibility rules.

The budget for the 2019/20 financial year will be released on 30 May.

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