SPEECH BY THE HONOURABLE THE FINANCIAL SECRETARY MOVING THE VOTE ON ACCOUNT RESOLUTION
IN THE LEGISLATIVE COUNCIL ON 16 th MARCH 1988--
He said:
Sir,
I move the motion standing in my name in the
Order Paper.
The purpose of this motion is to seek funds on
account to enable the Government to carry on existing
services between the start
sta of the financial year on 1 April 1988 and the enactment of the Appropriation Bill.
the
The funds on account sought under each subhead have been determined in accordance with paragraph four of
reference resolution, by
to percentages of the provision shown in the draft Estimates. As the draft Estimates are changed from time to time, by the Finance Committee or under delegated powers, the provision to which the percentages are applied will also change. Thus the provision on account under each head is not constant ' but may vary, with every increase being matched by an equal decrease. The initial provision on account under each head is shown in a footnote to this speech. The
aggregate total under all heads is fixed, however, at $17,427,373,000 and cannot be exceeded without the approval of this Council.
The resolution also enables the Financial
Secretary to vary the funds on account
account in respect of any subhead, provided that these variations do not cause an excess over the amount of provision entered for that
subhead in the draft Estimates ог an excess over the
amount of funds on account for the head.