Another whopping surplus

Treasury has just published the half year accounts for the Government, and surprise surprise an ever growing surplus.

It is now at $4.47 billion. To be fair most of the increase above budget are one off revaluations, rather than changes to core revenue and expenses.

Talking of revaluations, the rail network appears to have been revalued upwards by $10.3 billion – that’s a huge net worth increase.