Government deficit higher than forecast as tax revenue falls
Thursday 4 December 2025 · 2 outlets · 2 reports · updated In this story Nicola Willis, Treasury, ACC
Treasury figures show a $4.9 billion deficit for the four months ended October, which is approximately $700 million higher than May's Budget forecast. This shortfall occurred because tax revenue decreased more significantly than government expenses. The deficit reached $5.2 billion when including ACC costs.
