And the full story is:
http://www.radionz.co.nz/news/politi...-than-forecast
The deficit is $600 mill less than they thought. So we're still going backwards, right? Most economists don't think National has a hope in getting it back into balance by 2015. Doesn't matter, they'll pretend it's going to happen, until just after the next election. Fairy dust.
Meanwhile the drought that is all too obvious out here in the provinces is going to clobber about a billion off farm incomes, so far. So there's some expected prov tax and terminal tax that the govt won't be getting, for sure.