{"id":166799,"date":"2025-12-03T23:09:09","date_gmt":"2025-12-03T23:09:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/166799\/"},"modified":"2025-12-03T23:09:09","modified_gmt":"2025-12-03T23:09:09","slug":"government-finances-worse-than-expected-as-tax-take-falls","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/166799\/","title":{"rendered":"Government finances worse than expected as tax take falls"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/12\/4JXC10T_251126_Willis_OCR_2_jpg\" width=\"1050\" height=\"700\" alt=\"Nicola Willis\"\/><\/p>\n<p class=\"photo-captioned__information\">\nFinance Minister Nicola Willis.<br \/>\nPhoto: RNZ \/ Samuel Rillstone\n<\/p>\n<p>The government&#8217;s finances are slightly worse than expected, as the tax take fell more than expenses.<\/p>\n<p>Treasury figures, which exclude ACC finances, showed a deficit of $4.9 billion for the four months ended October &#8211; about $700 million higher than forecast in <a href=\"https:\/\/www.rnz.co.nz\/news\/political\/561809\/budget-2025-at-a-glance-the-big-changes-winners-and-losers\" rel=\"nofollow noopener\" target=\"_blank\">May&#8217;s Budget<\/a>.<\/p>\n<p>The deficit including ACC costs was $5.2b, $400m above forecast.<\/p>\n<p>The tax take was down $600m because of lower company and provisional tax receipts.<\/p>\n<p>Expenses were about $200m lower, with <a href=\"https:\/\/www.rnz.co.nz\/news\/political\/560273\/kiwirail-reveals-500-million-spent-on-axed-cook-strait-ferry-project\" rel=\"nofollow noopener\" target=\"_blank\">costs associated with the scrapped Cook Strait ferries project<\/a> partly offset by lower spending on several programmes.<\/p>\n<p>More to come. <\/p>\n<p><a href=\"https:\/\/radionz.us6.list-manage.com\/subscribe?u=211a938dcf3e634ba2427dde9&amp;id=b3d362e693\" rel=\"nofollow noopener\" target=\"_blank\">Sign up for Ng\u0101 Pitopito K\u014drero, a daily newsletter<\/a> curated by our editors and delivered straight to your inbox every weekday.<\/p>\n","protected":false},"excerpt":{"rendered":"Finance Minister Nicola Willis. Photo: RNZ \/ Samuel Rillstone The government&#8217;s finances are slightly worse than expected, as&hellip;\n","protected":false},"author":2,"featured_media":163437,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[48,47,42,43,49,46,44,45,40,38,41,39],"class_list":["post-166799","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-audio","tag-current-affairs","tag-headlines","tag-news","tag-podcasts","tag-public-radio","tag-radio-new-zealand","tag-rnz","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/166799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=166799"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/166799\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/163437"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=166799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=166799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=166799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}