G
S 1610
ORITY
EN CLAIR
FM HONG KONG
2704282
UNCLASSIFIED
[CULL]
RECEIVED IN REGISTRY No. 51
- 4 MAR 1974
TOP COPY
HKK 5/20.
TO PRIORITY F C O TELNO 258 OF 27TH FEBRUARY, 1974 INFO PRIORITY HONG KONG GOVERNMENT OFFICE LONDON.
APPROPRIATION BILL 1974.
LEC
RE
NEXT
BEF
THE FINANCIAL SECRETARY MOVED THE SECOND READING TODAY. THE MAIN POINTS IN HIS SPEECH WERE
REVISED ESTIMATES FOR 1973-74
PART 1: FINANCIAL POSITION
REVENUE :
HK DOLLARS 5,276 MILLION
SURPLUS :
HK DOLLARS
EXPENDITURE : RK DOLLARS 4,833 MILLION
FINANCIAL POSITION
1ST APRIL 1973
31ST MARCH 1974 #
433 MILLION (BUT ON THE BASIS OF DAILY RECEIPTS AND PAYMENTS COULD BE HK DOLLARS 500 MILLION BRING IT VERY CLOSE TO THE SURPLUS THE FINANCIAL SECRETARY BUDGETTED FOR IN HIS 1973 BUDGET SPEECH). NEXT MONTH FINANCE COMMITTEE WILL BE INVITED TO APPROPRIATE HK DOLLARS 300
MILLION AS A FURTHER CREDIT TO THE MASS TRANSIT FUND FOR THE GOVERNMENT'S EQUITY
CONTRIBUTION FOR THE FIRST FOUR STAGES OF THE RAILWAY, LEAVING HK DOLLARS 200 MILLION TO BE CARRIED FORWARD TO THE GENERAL REVENUE BALANCE.
FISCAL RESERVES WERE HK DOLLARS 3,179 MILLION.
FISCAL RESERVES ESTIMATED AT HK DOLLARS
3,066 MILLION, THE REDUCTION BEING CAUSED BY THE DECLINING VALUE OF FOREIGN CURRENCY
ASSETS.
/PART 11:
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