The fluctuation of the government surplus is evident in the latest accounts of the Crown

Departmental spending exceeding the Treasury's forecast has resulted in a budget surplus of $ 300 million over the last four months.

Finance Minister Grant Robertson, however, reported the problem last month when he warned that the amount of the surplus could fluctuate.

The latest series of Crown accounts show that the deficit is largely due to core Crown spending – the total amount of government spending – being higher than expected during the four-month period ending October 31st. .

The Treasury expected a slight surplus over this period.

With $ 28.3 billion, overall government spending has exceeded the budget by $ 300 million.

The Treasury said this was due to the fact that some departments had spent more than expected during this period.

A spokesman for Robertson said the deficit was not unexpected. He added that some departmental expenditures had been deferred until June 30 after that date.

This meant that the surplus, as reported in the June financial statements, was higher than expected.

Robertson reported this month. He added that government spending was 1.4% lower than forecast in June 2018 due to "timing issues".

This is largely due to factors such as lower than expected spending in the education sector and lower than expected spending for family tax credit applications late in the year. Year, he said at the time.

Because of this "timing problem", some departmental spending over the last four months has exceeded the Treasury's forecast over this period.

"The October accounts still have the greatest chance of the greatest variation from the forecasts as they are the farthest from the budget forecasts," the spokesman said.

He added that the next set of Crown accounts will be compared to much more recent forecasts, which will be included in next month's Economic and Fiscal Update (HYEFU).

In a statement, Robertson said in a statement that the Crown accounts show that New Zealand has a strong job market.

Tax revenue growth of $ 26.1 billion was $ 200 million higher than forecast – "above – forecast employment growth" was cited as the largest increase in the economy. one of the reasons for this growth.

Last month, the unemployment rate fell to 3.9%, a minimum of 10 years.

"Net debt at the end of October rose to 21.1% of GDP, compared with 21.6% forecast in the 2018 budget".

Even the national finance spokeswoman, Amy Adams, admitted that the books were in good condition.

But she said that is largely due to the policies of the previous national government.

"While New Zealanders are struggling against a rising cost of living, the accounts of the Crown show that the government is collecting more taxes while putting in place large, untargeted spending plans that exceed expectations.

"This means that New Zealand is more vulnerable if economic growth continues to slow, as many commentators predict and business confidence surveys continue to point to."