G.F. 323
CONFIDENTIAL 機密
- 55-
recurrent expenditure on new projects would be reduced to $200 m.,
At a
to bring total recurrent expenditure to some $800 m.
constant rate of increase, this represents a growth of just under
6% compound a year. But in practice the increase will be uneven.
There will be a sharp increase in 1975-76 as the Princess Margaret
Hospital is commissioned, a lower rate for the next three years
and a sharp increase annually from 1979-80 (when the first of the
major new projects is commissioned). In these circumstances, the
increase in recurrent expenditure resulting from the projects that
are likely to proceed is as much as can be considered acceptable
for planning purposes at this stage; and even then, the
implications for recurrent expenditure will have to be
carefully re-assessed as the planning of each project develops.
For the remaining projects (listed as (g) (m) in paragraph 13.4)
the recurrent implications will be as significant as the capital
expenditure involved in determining whether or not, as the
financial situation develops over the next ten years, they can
be implemented earlier than is at present envisaged.
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CONFIDENTIAL # Z