This Government has over-taxed us. Simple as that.
They should be embarrassed by this, but privately they're celebrating over scones and muffins in Grant Robertson's office.
As far as surpluses go, this is big. They took $7.5 billion from our pockets when they either couldn't spend it or chose not to spend it.
They dipped into our pay packets when they didn't have to.
They had the money there to act much quicker in emergency housing and they chose not to.
They had the chance to fund breast cancer drugs earlier and save lives. They chose not to.
They have taken $7.5 billion more than they had to.
Why are we paying the extra petrol tax in Auckland with this money mountain in Wellington?
Labour, do you really care for struggling families - funny way of showing it.
It's all deliberate, of course. They've got this money sloshing around in their cheque account earmarked for a vote-buying exercise commonly known as the election year lolly scramble.
How deeply cynical.
But it's always been like this really. No matter what party is warming the Treasury benches. Labour could give tax cuts but they really, really oppose them.
The phrase "tax cut" is in the vault. Never to be opened again. In there are pictures of Donald Trump and anything to do with him, all the unpopular things they lock away.
But Labour could return us all $60 each with an apology letter for overtaxing us, but I wouldn't rush to the letterbox.
These numbers show the economy is still strong, a recession is a red herring and businesses who are moaning and groaning are still doing okay.
Now stand by for the election-year bribes.
They will be big and hard to hide.
Duncan Garner is the host of The AM Show.