XN000022-1972-03-01 — Page 22

22

Wednesday, March 1, 1972

EXPENDITURE FOR MIXT FINANCIAL YEAR

ESTIMATED AT 13,650 MILLION

Increase Of 25 Por Cent Over 1971/72

The total estimated expenditure in the next financial year amounting to $3,657 million represents an increase of 727 million.

or 25 per cent over the revised estimate for 1971/72.

This is by far the largest increase ever, and had only been

But these wure exceeded twice before -- in 1948/49 and in 1950/51.

hardly comparable years as the Government was then in the process

of re-establishing services after the war.

Giving these figures in presenting his Budget in the Legislative Council today, the Financial Secretary, the Hon. C.P. Haddon-Cave said

the increase followed upon increases of 20 per cent on actual expenditure

in 1970/71 which in turn was an increase of 21 per cent on 1969/70.

The average level of actual expenditure in the three years ending 1969/70 was 1,890 million while the average for the three years ending 1972/73 worked out at just over 3,000 million.

T

The Financial Secretary said it was true the average capital

expenditure in the three years 1969/70 was, at 403 million, well down on the previous three years, but an increase in the three years cnding

1972/73 as actual spending on the Public Works Programme began to get

under way again, was to be expected, However, the increase, at 3823

million, was substantial.

The increase