22
Wednesday, March 1, 1972
EXPENDITURE FOR MIXT FINANCIAL YEAR
ESTIMATED AT 13,650 MILLION
Increase Of 25 Por Cent Over 1971/72
The total estimated expenditure in the next financial year amounting to $3,657 million represents an increase of 727 million.
or 25 per cent over the revised estimate for 1971/72.
This is by far the largest increase ever, and had only been
But these wure exceeded twice before -- in 1948/49 and in 1950/51.
hardly comparable years as the Government was then in the process
of re-establishing services after the war.
Giving these figures in presenting his Budget in the Legislative Council today, the Financial Secretary, the Hon. C.P. Haddon-Cave said
the increase followed upon increases of 20 per cent on actual expenditure
in 1970/71 which in turn was an increase of 21 per cent on 1969/70.
The average level of actual expenditure in the three years ending 1969/70 was 1,890 million while the average for the three years ending 1972/73 worked out at just over 3,000 million.
T
The Financial Secretary said it was true the average capital
expenditure in the three years 1969/70 was, at 403 million, well down on the previous three years, but an increase in the three years cnding
1972/73 as actual spending on the Public Works Programme began to get
under way again, was to be expected, However, the increase, at 3823
million, was substantial.
The increase