XN000022-1973-02-29 — Page 7

6.

Wednesday, February 28, 1973

MORE MONEY FOR ALL SERVICES OVER NEXT FOUR YEARS

Spending For 1973-74 Shows Three-Fold Rise Over Past 10 Years

跑

More public funds are to be channelled into community, social,

economic, general and supporting services over the next four fiscal years,

accourding to future Budget forecasts contained in the 1973-74 draft Estimates.

In the coming financial year, total estimated spending will pass

the $4,000 million mark for the first time and it is envisaged that the

$5,000 million mark will be exceeded a year later.

The estimated expenditure for 1973-74 is 34,409 million. This

represents an increase of about 300 per cent over the past ten years.

For 1974-75, a $5,080 million expenditure bill is forecast

up

-

$1,142 million

$671 million over the 1973-74 estimate. The forecast for 1975-76 is

$5,459 million and that for 1976-77 is put at $5,551 million

more than the estimate for the coming financial year.

The forecast is based on Government departments' forecast of expenditure

adjusted, where necessary, in the light of other factors affecting the

probable rate of development and the financial resources which are likely to

become available.

The forecast is divided into recurrent expenditure and capital

expenditure as follows:

Recurrent Expenditure

1973-74

1974-75

1975-76

1976-77

$3,039 million

$3,447 million

$3,749 million

$4,072 million

/Capital