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WELLINGTON buy jordan shoes clearance , July 8 (Xinhua) -- The New Zealand government operating deficit in the 11 months to the end of May was significantly above forecasts with tax takes lower than expected, according to Treasury figures out Tuesday.
The government, which is facing a general election in September, issued a warning against "big spending programs" promised by rivals and vowed to focus on achieving a surplus on target in the 2014-2015 fiscal year.
The operating balance was in deficit by 1.1 billion NZ dollars (964.57 million U.S. dollars), which was 332 million NZ dollars ( 291.12 U.S. dollars) more than forecast during the government's Budget published in May.
Government expenses of 64.2 billion NZ dollars (56.29 billion U. S. dollars) were 0.1 percent less than forecast, but tax revenue of 56.5 billion NZ dollars (49.53 billion U.S. dollars) was 0.8 percent less than forecast.
Finance Minister Bill English said that despite the economy growing by 3.8 percent in the year to March 31, sales and corporate taxes and other direct taxes were below forecast driven in part by lower-than-expected consumer spending.
"New Zealand has a good economic story to tell with rising wages, growing employment and record exports. But it's clear that New Zealanders both households and businesses - are still being careful with their spending and the government must continue to do the same," English said in a statement.
"While tax revenue was lower than forecast, it was 2.5 billion NZ dollars (2.19 billion U.S. dollars) higher than at the same time last year and these figures are within the normal variation for forecasts."
WELLINGTON, May 21 (Xinhua) -- Travelers going in and out of New Zealand will have to pay a new tax from January 1 next year to support the country's border control operations, the New Zealand government said Thursday.
The levy was expected to be around 16 NZ dollars (12 U.S. dollars) for arriving passengers and around 6 NZ dollars (4.40 U.S. dollars) for departing passengers, but the exact amounts would be subject to public consultation, Finance Minister Bill English said in a published speech on the annual Budget to Parliament.
The levy, expected to raise 100 million NZ dollars (73.27 million U.S. dollars) a year, would fund passenger-related biosecurity and customs activities that protected New Zealand from imported pests, diseases, illegal drugs and other threats.
"The government considers it fairer for the cost to fall on travelers, as happens in many other countries. A per-passenger levy also helps ensure that border services are funded to meet future demand," said English.
The levy would help meet growing passenger numbers, Primary Industries Minister Nathan Guy said in a statement.
"Arriving air passenger volumes have grown by more than 18 percent from 4.4 million in 2009 to 5.2 million in 2014, and are expected to continue growing at around 3.5 percent each year," said Guy. |
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