DRAFT ESTIMATES 1988-89
52.2
Against this background, I now present the draft
chp estimates of expenditure, the revenue estimates and my revenue
dotte 191
сар
cap
proposals for 1988-89.
Draft Estimates of expenditure
Dealing first with expenditure, the Medium Range Forecast, on which my budget for 1987-88 was based, indicated that expenditure growth was expected to peak in 1988-89 due to the timing of payments in respect of the Kowloon Walled City
clearance. As Members will see from the
the updated Medium Range
Forecast, this is still the case. The draft Estimates I submit
today show expenditure on General Revenue Account of $50 billion including transfers to funds. Expenditure on our various funds is estimated to be $13.0 billion. Taking General
Revenue Account and funds together, but excluding transfers,
per cent these estimates represent an increase of about 130 in cash terms over the revised estimate for
for 1987-88 (22). This figure of
сар сар
(22)
3
DRAFT EXPENDITURE ESTIMATES 1988-89 $M
milli
REVISED ESTIMATES
1987-88 SM.
million
General Revenue Account
49,976
le
Less transfers to
Funds
7,410
44,474 6,600
42,566
37,874
Capital Works Reserve Fund
10,180
7,700
Development Loan Fund
1,790
1,638
Home Ownership Fund
800
751
Mass Transit Fund
95
1,109
Student Loan Fund
Total - Funds
109
93
12,974
11,291
le
TOTAL GENERAL REVENUE
ACCOUNT + FUNDS
le (excluding transfers to Funds)
55,540
49,165
:
26
/$50.0 billion