XN000022-1975-02-26 — Page 23

Daily Information Bulletin 新聞公報 All

22

WEDNESDAY, FEBRUARY 26, 1975.

GOVERNMENT TO CONTINUE EXPANDING SOCIAL SERVICES

GOVERNMENT EXPENDITURE ON BOTH CONSUMPTION AND INVESTMENT WILL CONTINUE TO INCREASE, IN MONEY TERMS, DESPITE A POSSIBLE FALL OF 5 PER CENT IN THE PRIVATE SECTOR IN THE COMING FINANCIAL YEAR, THE FINANCIAL SECRETARY, THE HON. PHILIP HADDON-CAVE, SAID TODAY.

THAT

IN HIS BUDGET SPEECH. MR. HADDON-CAVE SAID THAT THIS WOULD REFLECT LIMITED REAL GROWTH.

AT $6,615 MILLION, THE DRAFT ESTIMATES OF EXPENDITURE FOR 1975-76 REPRESENTS AN INCREASE OF $431 MILLION OR 7 PER CENT ON THE REVISED ESTIMATE FOR 1974-75, AFTER ALLOWING FOR EXPENDITURE INCURRED ON BEHALF OF THE URBAN COUNCIL AND THE HOUSING AUTHORITY OF $270 MILLION IN 1974-75.

IT IS SUBSTANTIALLY LOWER THAN INCREASES IN RECENT YEARS. IN 1974-75, THE INCREASE WAS 33 PER CENT, EXCLUDING THE TRANSFER OF $300 MILLION TO THE MASS TRANSIT. FUND IN 1973-74 AS WELL AS EXPENDITURE INCURRED ON BEHALF OF THE URBAN COUNCIL AND THE HOUSING AUTHORITY, WHILE THE INCREASE IN 1973-74 WAS 26 PER CENT.

THE FINANCIAL SECRETARY SAID THAT THE PROVISION FOR EXPENDITURE ON RECURRENT SERVICES SHOWED IN THE DRAFT ESTIMATES WAS $4,618 MILLION.

THIS REPRESENTS AN INCREASE OF $407 MILLION OR 10 PER CENT ON THE REVISED ESTIMATE FOR 1974-75. BUT IT IS SUBSTANTIALLY LOWER THAN IN RECENT YEARS. IN 1974-75 THE INCREASE WAS 30 PER CENT WHILE THE AVERAGE ANNUAL INCREASE IN THE THREE YEARS ENDING 1973-74 WAS 22 PER CENT.

MR. HADDON-CAVE SAID HE DID NOT PROPOSE THIS YEAR TO ANALYSE IN DETAIL THE REASONS FOR THE INCREASE IN RECURRENT EXPENDITURE BUT, INSTEAD, TO DRAW ATTENTION TO NEW DEVELOPMENTS WHICH HAD BEEN PROVIDED FOR..

HE SAID: +PROVISION HAS BEEN INCLUDED TO BRING AN ADDITIONAL 19,000 SECONDARY SCHOOL PLACES INTO THE PUBLIC SECTOR TO ALLOW THE INCREASED INTAKES AT FORM 1 IN PREVIOUS YEARS TO PROGRESS THROUGH THE SCHOOLS AND TO MAINTAIN SUFFICIENT PLACES IN FORM FOR 50 PER CENT OF THOSE LIKELY TO APPLY.+

CONTINUING THE EMPHASIS ON TECHNICAL EDUCATION, HE SAID, THE PROVISION WOULD ALLOW FOR THE OPENING OF TWO NEW TECHNICAL INSTITUTES WITH A COMBINED CAPACITY OF 2.400 FULL TIME STUDENTS AND FOR THE PLANNED EXPANSION OF THE POLYTECHNIC TO PROVIDE FOR A FURTHER 400 FULL TIME STUDENTS.

THE PROVISION

Comments

Approved members can add comments, bookmarks, and private notes.

No comments yet.

Private Research Note

Private notes are available after approval.