гар
4.
сар
=
A budget speech does not merely give a snapshot of the at a particular state of the economy and the public finances point in time. More importantly, it gives us the opportunity to examine our performance since the last budget and to forecast what the economy may have in store for us next year and in the years beyond. This approach reflects what I believe should be the underlying theme in the management of our public finances the careful planning of public services in the light of what we can afford over the longer term. I must stress that the prudent management of our public finances, given the cyclical nature of our economy, depends to a great extent on our continuing to pay close attention to trends and on taking early action where necessary to avoid more extreme measures at a later date. reveal my budgetary proposals for
for 1988-89 I hope it will apparent how this underlying theme of steady management has, once again, been woven into my thinking.
5.
сар
сар
сыр
=
As I
be
This
Under
From time to time Members have usefully commented on the presentation of the documents supporting the budget.
year,
I have altered the format of the draft Estimates. each head of expenditure, we have provided sufficient detail to each enable Members to identify not only the objectives of department but also how the funds to be appropriated to each
those will be devoted to achieving these objectives. addition, we have attempted to give measures of both output and effectiveness. I hope that the changes that we have made will The task continues. I am be seen by Members as an improvement. particularly conscious of the need to give further consideration to the refinement of our Consolidated Account definition.
head
6.
In
I shall now embark upon the substance of this budget by describing the performance of the economy in 1987 (1).
(1)
See '1987 Economic Background' for further details.
molestong add
1sband
Cow Ca vino don 313. 9252 03 0 e.
amondoo quo pn.
subnu
/THE