A mistake by Statistics New Zealand has led to a liquor tax blunder that has cost the Government $750,000.

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Statistics NZ made a calculation error when it determined the Consumer Price Index in March, meaning the alcohol excise tax set for this financial year was set .08 percent lower than it should have been.

But a spokesperson for Finance Minister Bill English said the Government would not be chasing this year's $750,000 shortfall - as the sum was not big enough to justify the legislative change required to retrospectively collect the cash.

Last year the Government collected $892 million in excise duties from alcohol producers.