No new taxes would be introduced in the near future, acting chief executive Donald Tsang Yam-kuen said yesterday. If taxes were to come in, the Government would need a period of consideration before introducing them, he said. 'The Secretary for Treasury has to report to the Legislative Council and there will be a lot of things to be dealt with after such reactions are collected,' said Mr Tsang. 'It will take a period of time. People need not be too nervous on whether the Government will implement [new taxes] suddenly.' The Financial Secretary said he had not yet received the report by the Advisory Committee on New Broad-based Taxes about how to expand the tax base. He said the strategy in the next Budget would be mapped out after he had received revenue and spending estimates for this year and next from Secretary for Treasury Denise Yue Chung-yee next month. But Mr Tsang said the initial public offering of Mass Transit Railway Corporation shares had brought in $5 billion less than early forecasts had suggested, and this 'may cast a deeper shadow over the deficit budget next year'. He said: 'We will have to take into account the revenue and the economic situation in the next few months.' Mr Tsang has predicted a deficit of $6.2 billion for the current financial year. The deficit up to August was $32.2 billion. The latest figure is due out today, but a government official would only say it would be 'more than $10 billion'. Mr Tsang said: 'The economic situation next year is still a bit uncertain. Some people say the securities market in the US has almost reached its peak and adjustments are on the way.'