Well the Government is taking around $800 million a month more money than it is spending on current expenditure. Yes in just eight months the surplus is $6.6 billion and exactly on track for $10 billion over 12 months.
Now there are around 1.5 million households in NZ, so think of the surplus as $500 every month per household that Dr Cullen is taking, instead of allowing you to keep. Yes $500 a month!!
Even allowing for super fund contributions it is still a huge amount of over-taxation. Almost unprecedented by international standards.
Tax revenue is $2.2 billion higher than 12 months ago. The Government is doing its best to blow the surplus with expenditure up $4.1 billion but not even Labour can find enough things to throw money at.