Latest / The Kākā by Bernard Hickey
IRD hunts for more cash as deficit widens
Briefly in Aotearoa’s political economy around housing, poverty and climate on Friday Thursday, December 5:
* Treasury released Crown Accounts for the first four months of the financial year yesterday that showed the Budget deficit was $704 million worse than forecast in May at $4.94 billion, largely due to lower than forecast tax revenues because of this year’s economic contraction.
* However, the Government’s cash needs were $802 million lower than forecast because of lower-than-forecast capital expenditure.
* Under instructions to raise as much cash as possible, the IRD quietly announced a…
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