SPEECH BY THE HONOURABLE THE FINANCIAL SECRETARY IN LEGISLATIVE COUNCIL : WEDNESDAY 20 NOVEMBER 1985
Sir,
In accordance. with section 8(8) (b) of the Public
Finance Ordinance, I have tabled for Members' information a
summary of changes made to the approved Estimates of
Expenditure in the second quarter. of the financial year
1985-86.
2.
Supplementary provision of just under $262.5
million was approved, of which $145.8 million were included
in supplementary warrants. Some major provisions included
$198.7 million for the payment of grants to the
Baptist College and Urban
universities,
polytechnics,
Council as a result of the 1985 civil service pay
adjustment; $8.2 million for the construction of the City.
Polytechnic premises and $7.3 million for reimbursement
the English Schools Foundation of rent allowances for
former government teachers and their replacements. It is
reassuring to note that there will be no net increase in
expenditure resulting from the supplementary provision
approved because it has been offset either by savings under
the same or other heads of expenditure or by deletion of
funds under the additional commitments votes.