WEDNESDAY, MARCH 2, 1988
PROPOSALS TOGETHER INTERESTS IN THE
IN SHARES
1 HE "THE GOVERNMENT, FOR ITS PART,
TO THE RELATION
HELD BY DIRECTORS SHAREHOLDERS OF PUBLIC LISTED COMPANIES.
ADDED, "CONTINUES TO
OF BENEFICIAL DISCLOSURE
AND OTHER SUBSTANTIAL
PUT
RECEIVED HE SAID COMMENTS ON THE PUBLISHED WHITE BILL HAD BEEN
EXECUTIVE COUNCIL IN THE AND HE INTENDED TO SEEK THE ADVICE OF THE NEAR FUTURE.
"THE
SUBJECT
OF
INSIDER TRADING
IS
ALSO
UNDER ACTIVE THE
CONSIDERATION, AND AGAIN I AM ON THE POINT OF TAKING PROPOSALS TO EXECUTIVE COUNCIL, HE SAID.
r
1987-88 SURPLUS STANDS AT $7.6 BILLION
EXPECTED A
THE FINANCIAL SECRETARY, THE HON PIERS JACOBS, HAS MUCH HIGHER THAN BUDGETTED SURPLUS ON GENERAL REVENUE ACCOUNT OF SOME $6.1 BILLION FOR THE FINANCIAL YEAR 1987-88.
SURPLUS
WHEN COMBINED WITH THE GOVERNMENT'S FUND ACCOUNTS, THE
THE LEGISLATIVE COUNCIL TODAY BECAME $7.6 BILLION, MR JACOBS TOLD (WEDNESDAY) WHEN PRESENTING HIS BUDGET SPEECH.
SURPLUS MAY SEEM, YEARS OF OF TWO
HE NOTED HOWEVER THAT "SUBSTANTIAL AS THIS
THAT
PRODUCT THE IT IS REMEMBERED
IT MUST BE EXCEPTIONAL ECONOMIC PERFORMANCE.
蚰
YEAR WERE PER
HE SAID THAT THE ORIGINAL REVENUE ESTIMATES FOR THE FORMED ON THE ASSUMPTION AT THAT TIME OF GDP GROWTH OF AROUND 8.5 CENT IN 1986 AND SIX PER CENT IN 1987.
"AS WE HAVE SEEN, ACTUAL ECONOMIC GROWTH HAS BEEN
CONSIDERABLY
BETTER.
ACCOUNT
TO "I NOW EXPECT THE REVENUE YIELD ON GERENAL REVENUE
ABOVE THE BE NINE PER CENT
ORIGINAL ESTIMATE. COMBINING GENERAL ORIGINAL REVENUE ACCOUNT AND FUND ACCOUNT REVENUE THE INCREASE ON THE ESTIMATE IS 11 PER CENT.
AT DUTY
$5.0 BILLION WAS NEARLY MR JACOBS SAID THAT STAMP
MOTOR DOUBLE THE ORIGINAL ESTIMATE: WHILST SALARIES TAX, PROFITS TAX,
OF WHICH VEHICLE FIRST REGISTRATION TAX AND LAND SALES REVENUE, ALL
ALSO HAD STRONG ECONOMIC PERFORMANCE, NORMALLY BENEFITTED FROM HIGHER THAN EXPECTED YIELDS.
A
/ON THE