UPDATE: Barbour says Miss. revenue continues to lag

JACKSON — Gov. Haley Barbour says Mississippi’s tax revenue for October was 6.7 percent below estimates, and he doesn’t expect the trend to change soon.

Barbour said the revenue was $28.5 million below what was collected in October 2008. Barbour says collections are $111.7 million below estimates for the first four months of the current fiscal year.

The governor says the shrinking revenue will lead to reduced state government spending.

Barbour meets with the Joint Legislative Budget Committee on Thursday to set a budget recommendation for the fiscal year that begins next July 1.

The Associated Press