20
WEDNESDAY, JULY 4, 1990
SIR
PIERS
BE
EMPHASISED THAT RATEPAYERS WOULD NOT DISADVANTAGED BY THAT PROPOSAL BECAUSE THEIR RIGHT TO OBJECT TO A NEW RATEABLE VALUE WOULD NOT BE DIMINISHED IN ANY WAY.
"IN ADDITION, THE BILL SEEKS ΤΟ INTRODUCE A FEW MINOR AMENDMENTS TO CLARIFY CERTAIN AMBIGUOUS PROVISIONS, TO REMOVE OUTDATED PROVISIONS AND ΤΟ ASSIST IN THE ADMINISTRATION PRINCIPAL ORDINANCE," HE ADDED.
CERTAIN OF
THE
DEBATE ON THE BILL WAS ADJOURNED.
SURPLUS FOR 1989-90 FINALISED AT $11,063 MILLION
#
THE FINAL GOVERNMENT CONSOLIDATED CASH SURPLUS FOR THE 1989-90 FINANCIAL YEAR IS $11,063 MILLION, THE FINANCIAL SECRETARY, THE HON SIR PIERS JACOBS, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
THIS WAS A HELPFUL INCREASE OVER THE REVISED SURPLUS OF $9.3 BILLION FORECAST IN HIS BUDGET SPEECH, SIR PIERS SAID IN MOVING THE SECOND READING ON THE SUPPLEMENTARY APPROPRIATION (1989-90) BILL 1990.
THE ACCOUNTS FOR 1989-90 HAD BEEN FINALISED BY THE DIRECTOR OF ACCOUNTING SERVICES, HE SAID.
ON THE GENERAL REVENUE ACCOUNT, ACTUAL REVENUE AMOUNTED TO $74,365 MILLION AND TOTAL EXPENDITURE AMOUNTED TO $69,662 MILLION INCLUDING TRANSFERS TO FUNDS OF $17,700 MILLION.
THE FINAL SURPLUS ON GENERAL REVENUE ACCOUNT AFTER TRANSFERS TO FUNDS WAS THUS $4,703 MILLION. IF THE FUND ACCOUNTS WERE INCLUDED, ACTUAL TOTAL REVENUE AMOUNTED то $82,429 MILLION AND TOTAL EXPENDITURE AMOUNTED TO $71,366 MILLION.
SIR PIERS SAID THE EXPENDITURE CHARGED TO 55 EXCESS OF THE SUM APPROPRIATED FOR THOSE HEADS BY THE ORDINANCE 1989. THIS WAS BECAUSE SUFFICIENT OFFSETTING NOT BE FOUND WITHIN THE HEADS CONCERNED.
HEADS WAS IN APPROPRIATION
SAVINGS COULD
ORDINANCE,
"IN ACCORDANCE WITH SECTION 9 OF THE PUBLIC FINANCE THIS EXCESS HAS BEEN INCLUDED IN THE SUPPLEMENTARY APPROPRIATION (1989-90) BILL 1990 NOW BEFORE MEMBERS.
"THE BILL SEEKS TO GIVE FINAL LEGISLATIVE AUTHORITY FOR THE AMOUNT OF SUPPLEMENTARY PROVISION APPROVED IN RESPECT OF PARTICULAR HEADS OF EXPENDITURE BY THE FINANCE COMMITTEE OR UNDER POWERS DELEGATED BY IT, HE SAID.
THE TOTAL NET SUPPLEMENTARY APPROPRIATION REQUIRED IN RESPECT OF THE 55 HEADS OF EXPENDITURE WAS $3,749.4 MILLION.
/THIS EXCESS