Treasury says the government’s corporate tax take may miss forecasts for the rest of the financial year, leaving the Crown vulnerable to a bigger-than-expected annual deficit.
The government’s tax revenue was 2.9 percent short of forecast at $31.36 billion in the seven months ended Jan. 31.
The Treasury said tepid wage growth and employment sapped source deductions, while insurance companies sought GST refunds, and companies paid less tax than forecast.
A triple-whammy of strikes pushed labour relations into the national spotlight, sparking a debate about whether it is coincidental or a sign of employers being emboldened by National’s re-election. …
Locked out indefinitely
762 workers at five Affco plants, at Moerewa, Horotiu, Wairoa, Feilding and Wanganui.
• Up to 900 more Affco workers for 24 hours from 5am today at the above sites and three others, including Wiri and Rangiuru (Te Puke), most of which will be picketed.
• About 300 Auckland port workers, from last Friday, until March 23.
• About 700 employees of rest-home chain Oceania, including about 200 in Auckland, for two hours yesterday and six hours next Wednesday.
A major restructure of the NZ Defence Force has seen 655 fewer roles in less than two years, staff morale at an all-time low and a major challenge to keep the quality staff they have left, Defence bosses say.
Finding a job is one of the biggest worries for today’s tertiary students – so much so that many are planning to leave the country when they finish studying. …
“Concerns about just getting a job – any job – featured overwhelmingly high on a number of the questions we asked, much more than the usual student concerns of debt and what to do next. It is no surprise, then, that heading overseas is the plan for many.”
Ministry of Foreign Affairs staff, stressed by the possibility of losing their jobs, have been told to “pray, do yoga or get a pet” …
New Zealand recorded its biggest annual loss of migrants since August 2001, as Kiwis continued to jump the ditch seeking a better standard of life and higher-paying jobs in Australia.
Hey John – where’s our “Brighter Future”? Hey National voters – was this what you voted for?