46.
will
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To complete the
the background to the budget proposals I
to date on the present state of the
now bring you up
Government accounts.
Revised Estimates 1984-85
47.
•
On General Revenue Account the budget for 1984-85 envisaged a deficit of $2.1 billion (14). In the event revenue is close to our target and expenditure lower than expected The revised estimates of revenue (excluding the $1 billion yield from the bond issue) and expenditure are respectively $34.9 billion and $36.7 billion. I therefore expect the outturn for this year to be a deficit of about $1.8 billion (15). Because of the bond issue the actual shortfall is $1 billion less, but we must not be misled by this.
48.
On recurrent account, revenue in 1984-85 is expected to be marginally lower than the original estimate by about $200
(14) i.e. $2,139 million: the difference between estimated revenue of
$35,194 million and estimated expenditure of $37,333 million.
(15)
Original
Revised
($mn)
($mn)
($mm)
($mn)
Recurrent Account:
Revenue
30,464
30,262
Expenditure
26,933
3,531
26,259
4,003
Capital Account:
Revenue
4.730
4,666
Expenditure
10,400
-5,670
10,426
-5,760
Deficit
-2,139
-1,757
The
revised estimates
are based on a maximum of nine months'
performance.
G.F. 316
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