CONFIDENTIAL
|
mitten
Leer
&
du Dully
Dim 2715
Mr 1 J Stewart (Special Adviser)
Cc:
Mr J A B Stewart
(HKGD) ✔
HUN KONG
1.
PUBLIC EXPENDITURE
You requested some past details on long Kong's public expenditure (on UK definitions) to have available for your next meeting with the Secretary of State when you might ask his views on public expenditure there. This is relevant to para 3(b) of my draft letter from HKGD to the Financial Secretary, Hong Kong (copy with you).
The pertinent figures are:
1965/6
1967/8
1969/70
1971/2
1973/4
1975/6
1976/7
1977/8
Sources
(i)
26 May 1977
(ii)
Public Expenditure as % of GDP
17.2
14.6
12.7
13.6
17.0.
17.5
16.4.
17.6
Hong Kong: Estimates of Revenue and Expenditure 1976/7, Apendices VI and VIII, pp 791/3; (except 1976/7 and
1977/8).
Hong Kong: Financial Secretary's Budget Speech, 2 March 1977, para 225 (for 1976/7 and 1977/8).
Dimen tun
Adrian Smith
Senior Economic Adviser
CONFIDENTIAL
40