WEDNESDAY, MARCH 7, 1990
17
TURNING TO THE MAIN PROGRAMME AREAS, IN TERMS OF CONSOLIDATED PUBLIC SECTOR EXPENDITURE, SIR PIERS SAID SPENDING ON SOCIAL SERVICES AT $16 BILLION WOULD SHOW AN INCREASE OF 17 PER CENT IN OVER 1989-90, AND SPENDING ON EDUCATION WOULD INCREASE BY CENT.
"EXPENDITURE ON SOCIAL SERVICES AND
REAL TERMS THREE PER
TOGETHER WE WILL TERTIARY
EDUCATION WILL
FOR ACCOUNT
30 PER CENT OF THE TOTAL.
AHEAD IN THE YEARS CONTINUE TO SEE AN EXPANSION IN THESE AREAS, PARTICULARLY IN EDUCATION. IN ADDITION, EXPENDITURE ON COMMUNITY AFFAIRS WILL INCREASE BY 16 PER CENT AND ON SECURITY BY EIGHT PER CENT.
ONE
"EXPENDITURE ON THE HOUSING PROGRAMME WILL REPRESENT ABOUT EIGHTH OF TOTAL EXPENDITURE, EXCLUDING THE CLEARANCE OF KOWLOON WALLED CITY.
"ABOUT ONE THIRD OF THE NEW HOUSING UNITS TO BE CONSTRUCTED WILL
SPENT ON IN ADDITION MORE WILL BE BE FOR SALE.
REMODELLING TT HE SAID. RENOVATING SOME OF THE OLDER HOUSING ESTATES,
AND
AS
REGARDS INFRASTRUCTURE AND ECONOMIC SERVICES, THE SECRETARY SAID EXPENDITURE WOULD GROW IN 1990-91 LARGELY BECAUSE IMPROVEMENTS TO KAI TAK AIRPORT TO MEET ANTICIPATED TRAFFIC DEMAND AND MAJOR BECAUSE OF PRELIMINARY EXPENDITURE ON THE NEW AIRPORT AND OTHER INFRASTRUCTURAL PROJECTS.
FINANCIAL
OF
"ONCE WE
EXPENDITURE DEVOTED ΤΟ INCREASE SUBSTANTIALLY.
EMBARK ACTUALLY
ON THESE PROJECTS THE SHARE INFRASTRUCTURE AND ECONOMIC SERVICES
OF
WILL
"IN ADDITION, THERE WILL BE A LARGE EQUITY INVESTMENT BY THE
IN THE AIRPORT AUTHORITY AND THE RAILWAY GOVERNMENT RESPECT OF THE AIRPORT ITSELF AND RELATED PROJECTS UNDERTAKEN BY THESE BODIES," HE SAID.
CORPORATIONS
WHICH
IN
WILL
BE
ΤΟ
GREAT
BY
SIR PIERS POINTED OUT THAT THE ACCELERATION OF THE PROGRAMME
TO WHICH IMPROVE
THE
ATTACHED THE ENVIRONMENT,
GOVERNMENT IMPORTANCE, WAS UNDERLINED BY THE FACT THAT EXPENDITURE WOULD GROW NO LESS THAN 43 PER CENT IN REAL TERMS.
"'AT $2.2 BILLION, THIS IS A RELATIVELY SMALL PART OF OUR EXPENDITURE, BUT IN THE YEARS AHEAD THIS PROGRAMME AREA WILL FOR AN INCREASING SHARE," HE SAID.
TOTAL ACCOUNT
TURNING TO THE DRAFT
THE FINANCIAL ESTIMATES OF REVENUE,
BUDGET PROPOSALE SECRETARY SAID GENERAL REVENUE ACCOUNT BEFORE THE SHOWED REVENUE OF $82.7 BILLION, AN INCREASE OF 11 PER CENT OVER 1989- 90.
"REVENUE FROM DIRECT TAXES WILL INCREASE BY 16 PER CENT AND WILL TAKEN REPRESENT 65 PER CENT OF THE TOTAL OF DIRECT AND INDIRECT TAXES TOGETHER. THIS COMPARES WITH 63 PER CENT IN 1989-90," HE SAID.
"REVENUE TO THE VARIOUS FUNDS IS ESTIMATED TO BE $5.9 BILLION,
HE ADDED. REDUCTION OF 27 PER CENT COMPARED WITH 1989-90,
/"IN THE
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