New Zealand politicians appear to have lost interest in the Crown financial accounts, as the publication yesterday of the Government's financial performance received no reaction from MPs.
With Parliament not due to sit until February 9, the MPs are spreading themselves around visits to Ratana Pa, signing the Trans Pacific Partnership trade agreement on February 4 and focusing on Waitangi Day on February 6.
Finance Minister Bill English did not bother sending out any comment on the accounts, the second consecutive month he has failed to react to the publication of accounts - perhaps an indication he has already made his decision about whether he will leave Parliament this year.
Mr English met his election campaign pledge to return the accounts to surplus last year, opening the way for the list MP to leave.
Also failing to respond to the accounts were Labour finance spokesman Grant Robertson, New Zealand First leader Winston Peters and Green Party finance spokeswoman Julie Anne Genter.
Before the accounts briefly returned to surplus, Opposition MPs were vehemently vocal in their condemnation of Mr English's handling of the economy.
The accounts showed the Crown operating balance before gains and losses blew out to a deficit of $1.6billion in the five months to November from a forecast deficit of $1.2billion.
The difference was a 31% difference from the December half-year update and another indication of the difficult the Treasury has in forecasting government finances.
The operating balance was a deficit of $497million, a 74% variance on the half-year forecast of a deficit of $1.9billion.
The operating balance was helped by New Zealand Superannuation Fund and ACC gains on investments which were higher than forecast by $686million and $586million respectively.
Crown core tax revenue was $26.4billion, 0.8%, or $212million, lower than forecast.
While the majority of tax types were close to forecast, corporate tax and source deductions were lower than forecast, chief government accountant Paul Helm said.
Corporate tax was $167million, or 5%, below forecast, mainly as a result of weaker provisional tax in November.
Source deductions were $110million below forecast.
Core Crown expenses increased by 2.5% on the previous corresponding period.
Health spending was up $248million, social security and welfare spending was up $221million and housing and community development spending was up $141million.
