"You have to wonder if Labour really is this financially illiterate or deliberately manipulating figures to stimulate fear-based voting"
The forecast Budget surplus for the year to June 30 2015 will be small and exposed to the influence of even small changes in the value of some government liabilities, particularly government bonds, says English.
A bigger corporate tax take and less spending on the Canterbury earthquake than expected.
On the nation's current track, revenue will fail to meet expenses by the mid-2020s, Treasury says.
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