NewZealand’s FinMin Bill English has said that corporate and personal tax revenues are dwindling and that the recession will hurt profits and tax takes for some time yet. The government posted a worse than expected NZ$3.27 Bln for Q3. The forecast was for a deficit of NZ$2.37 Bln. The larger deficit was because of the NZ$1 Bln drop in corporate tax revenue.
No effect on the NZDUSD.
