Finance Minister Grant Robertson. Photo: RNZ / Angus Dreaver
The government's finances are in better than expected shape, with the tax take holding up, but expenses just above forecast.
Official figures show a deficit of $2.8 billion for the four months to October, about $270 million below the budget forecast.
The tax take was in line with what was forecast, at $36.2 billion, with higher income tax payments offsetting a slight dip in GST and the government's reduction in fuel taxes.
Overall revenue was also boosted by higher earnings from the emissions trading scheme.
Expenses were $500 million above budget, reflecting higher interest costs and delayed pandemic-related health costs.