WEDNESDAY, DECEMBER 5, 1984
$1 294.6M SUPPLEMENTARY PROVISION APPROVED
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SUPPLEMENTARY PROVISION FOR THE SECOND QUARTER OF THE
FINANCIAL YEAR 1984-85 AMOUNTED TO $1 294.6 MILLION, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, TOLD THE LEGISLATIVE COUNCIL TODAY.
OF THIS SUM, $1 004.5 MILLION WAS FOR THE PAYMENT OF THE PROCEEDS FROM THE ISSUE OF GOVERNMENT BONDS TO THE CAPITAL WORKS RESERVE FUND TO REFLECT GOVERNMENT'S INTENTION OF APPLYING SUCH PROCEEDS FOR THE PURPOSE OF PRODUCTIVE CAPITAL INVESTMENT.
+OTHER MAJOR PROVISIONS WERE $92.7 MILLION AND $89.9 MILLION FOR THE RESPECTIVE PAYMENT OF INCREASED GRANTS TO THE URBAN COUNCIL AND THE UNIVERSITIES, POLYTECHNICS AND THE BAPTIST COLLEGE AS A RESULT OF THE 1984 CIVIL SERVICE SALARIES REVISION; $50.1 MILLION FOR THE PAYMENT OF INTEREST TO BOND HOLDERS AND SERVICE CHARGES TO THE PAYMENT AGENT: $11.4 MILLION FOR A GRANT FOR THE FITTING OUT OF TEMPORARY PREMISES FOR THE CITY POLYTECHNIC,+ HE SAID.
OTHER ITEMS INCLUDE $10.4 MILLION FOR THE PAYMENT TO THE BRITISH MILITARY HOSPITAL AS A RESULT OF REVISED RATES FOR THE USE OF FACILITIES AT THE HOSPITAL: $8.6 MILLION TO MEET EXPENDITURE FOR THE CONTINUED APPOINTMENT OF INSPECTORS TO INVESTIGATE THE AFFAIRS OF EDA INVESTMENTS LIMITED AND THE CARRIAN GROUP; AND $8.1 MILLION TO MEET AN INCREASED DEMAND FOR REFUND OF REVENUE.
+THE TRANSFER OF THE BOND PROCEEDS TO THE CAPITAL WORKS RESERVE FUND IS COUPLED BY THE RESERVATION OF AN EQUIVALENT AMOUNT IN THE ORIGINAL PROVISION FOR PAYMENT TO THE FUND, SIR JOHN SAID.
+THE OTHER SUPPLEMENTARY PROVISION APPROVED HAVE BEEN OFFSET EITHER BY SAVINGS UNDER THE SAME OR OTHER HEADS OF EXPENDITURE OR BY DELETION OF FUNDS UNDER THE ADDITIONAL COMMITMENTS VOTES, HE ADDED.
+DURING THE QUARTER, A NET INCREASE OF 1 405 POSTS WAS APPROVED, INCLUDING POSTS FOR THE HOUSING AUTHORITY AND THE URBAN COUNCIL,+ SIR JOHN SAID.
HE NOTED THAT APPROVED COMMITMENTS HAD BEEN INCREASED BY $51.5 MILLION AND NEW COMMITMENTS OF $104 MILLION HAD BEEN APPROVED. THESE REPRESENTED A 10.6 PER CENT INCREASE OVER THE TOTAL COMMITMENT OF $3 044.9 MILLION IN THE 1984-85 ESTIMATES.
HE POINTED OUT THAT ITEMS IN THE SUMMARY HAD BEEN APPROVED EITHER BY THE FINANCE COMMITTEE OR UNDER DELEGATED AUTHORITY.
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