Remember the $11.5 billion hole that Stephen Joyce and National said Labour was going to leave the country with? Well the 2017/18 financial books have been completed and released and the Government’s surplus was $2.4 billion greater than forecast.
From Tova O’Brien at Stuff:
The Government is awash with cash, recording a surplus of $5.5 billion – $2.4 billion more than forecast.
The 2017/18 financial books have been opened and major tax haul of $80.2 billion has left the government flush.
But Finance Minister Grant Robertson is warning about risks like international trade wars and mycoplasma bovis or other biosecurity incursions which could eat into the surplus.
The good thing is that there should be plenty now for the Government to deal properly with the Teachers’ pay negotiations. And the other good think is that it finally buries the lies that National was peddling about Labour’s fiscal ability.