[Imported from Whale Oil Beef Hooked on Blogger]
Treasury announced today that the Government operating surplus for the 11 months to May was $7.46 billion — $675 million ahead of the forecast in the May 19 budget.
Mainly attributed to higher than expected tax revenue (now theres a surprise), most of that being the $368 million of the banks.
It would have been even higher if it wasn’t for recognition of $307 million of Kyoto liability. One wonders what the surplus would be like without this stuff up.




