NZ taxpayers have spent more than half a billion dollars over the past decade subsidising Hollywood.

John Key has slammed bureaucratic pin-pricking over the proposed NZ financial services hub as "absolute rubbish" and stepped in to put the project on the fast-track.

More can be done to improve the tax system to promote economic growth, says Treasury secretary John Whitehead.

The Govt's budget cash deficit is wider than forecast as an expected spending surge ahead of the increase in GST failed to eventuate and companies paid less tax.

Reciever says he's not surprised the SFO is looking at certain loans.

The Government is claiming credit for low price rises, saying people have more money in their pockets on the back on low inflation and increasing wages.

Roads, schools, prisons - business wants a share of the action, but the Government is in no rush, reports Nick Smith.

South Canterbury Finance chief executive Sandy Maier became a director of Ngai Tahu Holdings the day after Allan Hubbard's finance company was placed in receivership.

The Govt's financial statements show the deficit shrank as bigger returns from the ACC and the Cullen Fund kicked in.