Finance Minister Nicola Willis. Photo: RNZ / Samuel Rillstone
The government's finances are slightly worse than expected, as the tax take fell more than expenses.
Treasury figures, which exclude ACC finances, showed a deficit of $4.9 billion for the four months ended October - about $700 million higher than forecast in May's Budget.
The deficit including ACC costs was $5.2b, $400m above forecast.
The tax take was down $600m because of lower company and provisional tax receipts.
Expenses were about $200m lower, with costs associated with the scrapped Cook Strait ferries project partly offset by lower spending on several programmes.
More to come.
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