FRIDAY, DECEMBER 20, 1991
FS BRIEFS OMELCO MEMBERS ON BUDGET
THE FINANCIAL SECRETARY,
MR HAMISH MACLEOD, TODAY (FRIDAY) AND FINANCIAL BACKGROUND ΤΟ
BRIEFED OMELCO MEMBERS ON THE ECONOMIC THE NEXT BUDGET.
RANGE IN PARTICULAR, HE EXPLAINED TO MEMBERS THE LATEST MEDIUM
AND REVENUE FOR THE PERIOD TO FORECAST OF GOVERNMENT EXPENDITURE
MARCH 31,
1997.
THE
MEDIUM
RANGE
FORECAST
SHOWS THE
LEVELS OF FUTURE REGARD ΤΟ THE FUNDAMENTAL EXPENDITURE WHICH ARE ACCEPTABLE, HAVING POLICY THAT SPENDING SHOULD GROW BROADLY IN LINE WITH THE ECONOMY.
EXPENDITURE WITHIN THE EXPENDITURE LEVELS FORECAST, GOVERNMENT
FIVE PER CENT RACH TEAR (OR WOULD INCREASE IN REAL TERMS BY ABOUT ABOUT $4 BILLION IN TODAY'S MONEY).
KEY THIS ADDITIONAL EXPENDITURE WILL ALLOW MORE TO BE SPENT ON
HEALTH SERVICES AREAS, INCLUDING TERTIARY EDUCATION, SOCIAL WELFARE, AND THE ENVIRONMENT.
MR
MACLEOD
COMMENTED
THAT
WOULD THERE
TO PLEASE
NEVER EVERYONE,
BE
IN THESE AREAS AVAILABLE TO SPEND RESOURCES COULD ONLY BE MADE AVAILABLE BY REVIEWING EXISTING PROGRAMMES.
ENOUGH BUT MORE SPENDING
SERVICES WERE IN SOME AREAS NEW AREAS. BUT OVERALL SERVICES, NOT
HE EMPHASISED THAT REPORTS OF "CUTS" IN VARIOUS THUS DANGEROUSLY MISLEADING - SAVINGS WERE BEING MADE TO REDEPLOY RESOURCES TO HIGHER PRIORITY OR THERE WOULD BE REAL INCREASES IN AREAS LIKE THE SOCIAL CUTS.
FINANCIAL
SECRETARY EXPLAINED
THAT
PROJECTS
THE PUBLIC OTHER NEW
THE
ALTHOUGH RELATED TO THE AIRPORT DEVELOPMENT WOULD. HAVE PRIORITY IN WORKS PROGRAMME, MORE THAN $18 BILLION WOULD BE SPENT PROJECTS IN THE FORECAST PERIOD, IN ADDITION TO THE ONGOING PROGRAMME.
THROWING HE ALSO CORRECTED RECENT REPORTS PROPORTION OF THE PUBLIC WORKS PROGRAMME TO BE SPENT ON PROJECTS.
ON
ON DOUBT
THE AIRPORT CORE
DURING
TO ABSORB ABOUT
THE
YEARS SIX
ONE-QUARTER
NEEDED
OF FOR
THIS WAS, IN FACT, EXPECTED
EXPENDITURE CAPITAL CONSTRUCTION OF THE AIRPORT PROJECTS.
TOTAL
TURNING TO THE QUESTION OF REVENUE EXPENDITURE, MR MACLEOD REMINDED MEMBERS OF $25 BILLION OF
THE GOVERNMENT'S
RESERVES
ΤΟ FUND THESE LEVELS
OF
THE NERD TO SET ASIDE FOR THE POST-1997 HONG
KONG SPECIAL ADMINISTRATIVE REGION ADMINISTRATION.
/HE ALSO