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90 seconds at 9am: Tax D-Day for NZ; Toyota Prius recall

90 seconds at 9am: Tax D-Day for NZ; Toyota Prius recall

Watch on our video page here. click here to go to todays 90-at-Nine video report Watch on YouTube here. Alex Tarrant presents 90 seconds at 9am in association with BNZ, including news that today is Tax D-Day for New Zealand when Prime Minister John Key delivers his speech to open Parliament after 2pm. Key is set to outline changes in New Zealand's tax system to be brought in at the May 2010 Budget. The changes will likely focus on residential property investors and savings should be enough for a cut in the top income tax rate from 38% to 33%. Bernard Hickey is in Wellington today and will be live-blogging from Parliament.

Meanwhile, Toyota is preparing a recall of its Prius cars, which have problems with braking systems, Reuters reports. This follows a recent recall of over 8 million Toyota cars that had problems with accelerator pedals. Finally a Bloomberg survey of economists suggests Chinese banks made more new loans in January than the previous three months combined, ahead of a credit clampdown by authorities there.

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