The following facts are taken from the Hong Kong Government's Five-Year Forecast of Revenue and Expenditure covering the period 1970/71 to 1974/75.
(a)
(b)
Over the five-year period 1965/66 to 1969/70 there was a net accumulated surplus of HKZ627 million on recurrent and capital account taken together, without taking into con- sideration the operations of the Exchange Fund. By con- trast, the Forecast for the next five years is for a deficit of HK $486 million after taking into account trans- fers from the Exchange Fund totalling HK $600 million. "Personal Emoluments" take up 47 per cent of the total of recurrent expenditure. Personal emoluments will go up from HK $941 million this year to HK 81313 million in 1974/75, regardless of any possible future salary changes (the Salaries Commission just appointed will be reporting next summer and there is little doubt that in one way or a nother their recommendations will involve increased
expenditure).
(c)
Recurrent expenditure on education will go up from HK 8384 million in 1970/71 to HK 8577 in 1974/75. comparable figures for medical and health are HK $246 and HK 378 millions.
The
(a)
(e)
Over the five-year period 1970/71 to 1974/75 it is estimated that a total of HK 8183.3 million will have to be spent on the development of Kai Tak Airport. Over the five-year period 1970/71 to 1974/75 the expenditure on transport, roads and civil engineering, for which the Government will have to find funds, is estiated to total HK $1035.5 million (£71.2 m). This does not include the so-called "Mass Transit System" (the proposed underground railway) which is estimated to cost something between £250 million and £300 million. Nor does it include the double tracking of the Kowloon/Canton railway.