22
4
WEDNESDAY, MARCH 6, 1991
SIGNIFICANT IMPROVEMENTS IN PUBLIC SERVICES PROMISED
MEMBERS OF THE PUBLIC WILL STILL ENJOY SIGNIFICANT IMPROVEMENTS
AND ADDITIONAL
EXPENDITURE ARE
IN THE PROVISION OF PUBLIC SERVICES BEING PLANNED TO ACHIEVE THESE, THE FINANCIAL SECRETARY, THE PIERS JACOBS, SAID TODAY (WEDNESDAY).
HON SIR
AND
SERVICES AS A SIR PIERS EMPHASISED THAT SPENDING ON PUBLIC WHOLE WAS NOT BEING CUT BACK IN ORDER TO PAY FOR THE NEW AIRPORT OTHER ESSENTIAL CAPITAL PROJECTS.
HAVE "I
ALREADY
OUR EMPHASISED
EXPENDITURE AT LEVELS THE ECONOMY CAN SUPPORT.
TO DETERMINATION
KEEP
"SO WE CONTINUE TO PLAN THE GROWTH IN EXPENDITURE BY TO THE EXPECTED GROWTH IN THE ECONOMY.
REFERENCE
"OUR FORECASTS OF ECONOMIC PERFORMANCE OVER THE NEXT FEW YEARS
SHOW THAT WE WILL NOT BE ABLE TO ALLOW EXPENDITURE TO GROW AS
門 SIR PIERS NOTED. AS HAS BEEN THE CASE IN RECENT YEARS,
PRESENTING THE DRAFT ESTIMATES EXPENDITURE
SIR
POINTED
QUICKLY
1991-92
PROVIDED
FOR WHICH IN
HIS IN
PIERS
OUT
THE ESTIMATES THAT BUDGET, EXPENDITURE FROM GENERAL REVENUE ACCOUNT OF $73.6 BILLION, MONEY TERMS WAS 17 PER CENT ABOVE THE REVISED ESTIMATE FOR 1990-91.
"IN
ADDITION, THERE WILL BE TRANSFERS TOTALLING $26.7 TO FUNDS, THUS BRINGING THE TOTAL AMOUNT TO BE APPROPRIATED TO BILLION.
BILLION $100.3
LOAN
CENT
OVER
"EXPENDITURE FROM THE CAPITAL WORKS RESERVE FUND AND THE FUND IS ESTIMATED AT $27.7 BILLION, AN INCREASE OF 37 PER 1990-91," SIR PIERS SAID.
TOTALLING
$3.5
45
PER
OF
HE SAID EQUITY INVESTMENT IN STATUTORY BODIES BILLION WOULD BE MADE FROM THE CAPITAL INVESTMENT FUND, SOME
RESCHEDULING CENT LESS THAN IN 1990-91, MAINLY AS A RESULT OF A INJECTIONS OF CAPITAL INTO THE HOUSING AUTHORITY.
IN
THE SUM,
TOTAL HE SAID, ESTIMATED AT $104.8 BILLION, AN INCREASE CURRENT FINANCIAL YEAR.
EXPENDITURE GOVERNMENT
OF 17 PER CENT OVER
WAS
THE
THE GENERAL COMMITMENTS τό FIGURES FOR
SIR PIERS SAID THE ESTIMATE OF $73.6 BILLION FOR REVENUE ACCOUNT INCLUDED $6.5 BILLION FOR ADDITIONAL COVER ITEMS FOR WHICH THE GOVERNMENT DID NOT HAVE FIRM INCORPORATION IN THE DETAILED ESTIMATES.
"AS
THE
WAS THE CASE LAST YEAR, SOME PROVISION IS MADE WITHIN ADDITIONAL COMMITMENTS FOR THOSE COSTS OF THE HOSPITAL AUTHORITY WHICH HAVE YET TO BE DETERMINED,
HE SAID.
HE. SAID EXPENDITURE FROM THE CAPITAL WORKS RESERVE BILLION, WOULD ALLOW FOR A 36 PER CENT INCREASE IN ON PUBLIC WORKS PROJECTS.
$25.7
FUND, AT EXPENDITURE
/"PART OF