It all relative, innit
?
The regs define the Neutral Conductor as a conductor connected to the Neutral Point of the supply system. However they don't define the Neutral Point AFAICS.
So we can arbitrarily select any point on the supply side and define that as the Neutral Point. If there is no point in the system connected to Earth, i.e., the system is floating, then the Neutral Point, together with all other parts of the circuit, has no voltage WRT Earth anyway.
We can arbitrarily decide to connect any point of the system to Earth. If, as is usual, we elect to connect our defined Neutral Point to Earth, then that Neutral (Point) is,
by definition, at 0v wrt Earth. But we are not compelled to do that. We could connect some other point in the supply to Earth, in which case Neutral would
not be at Ov wrt Earth.
In a three phase supply, we generally define Neutral as the star point of the 3-phase transformer feeding the distribution network, and we generally connect that star point to Earth. That fixes the Neutral Point at 0v wrt. Earth.
The voltage at any point on the Neutral Conductor will, of course, vary from 0v where it connects to the Neutral Point, up to some value determined by the resistivity of the Neutral Conductor, its size, distance to the Neutral Point and the current flowing through it.
So it seems to me to depend on your frame of reference. (If that is on a moving vehicle, does your ammeter read a lower current?
)
At least, that's how it looks from where I am standing. Your frame of reference may vary.