Budget 2015: $4.5 billion shaved off tax forecasts, says English
Nominal GDP now forecast to be 1.5% lower than expected, equating to $15 billion less – or more than half the GFC's impact.
Rob Hosking breaks down the political and economic week that was on NBR Radio, and on-demand on MyNBR Radi
Rob Hosking Fri, 01 May 2015
Lower inflation and interest rates have shaved a little more than $1.1 billion a year off the tax revenue the government anticipated in last year’s budget.
Finance Minister Bill English told a Wellington business audience today that means a deficit this year and a smaller surplus than hoped for
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