XN000022-1975-06-27 — Page 10

FRIDAY, JUNE 27, 1975

$379 MILLION DEFICIT RECORDED IN 1974/75

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THE HONG KONG GOVERNMENT ACCOUNTS FOR THE FINANCIAL YEAR 1974/75 SHOW A TOTAL DEFICIT OF $379.8 MILLION, SLIGHTLY LESS THAN THE $410 MILLION DEFICIT PREDICTED BY THE FINANCIAL SECRETARY IN HIS BUDGET SPEECH.

TOTAL REVENUE FOR THE YEAR AMOUNTED TO $5,875.3 MILLION. THIS IS $634.5 MILLION MORE THAN IN 1973/74, LARGELY AS A RESULT OF COLLECTIONS IN RESPECT OF INTERNAL REVENUE WHICH TOTALLED $2,604.5 MILLION DURING THE YEAR $335.1 MILLION MORE THAN IN 1973/74.

TOTAL EXPENDITURE DURING THE YEAR AMOUNTED TO $6,255.2 MILLION WHICH WAS $1,086 MILLION MORE THAN IN 1973/74 MAINLY BECAUSE OF INCREASED SPENDING ON PERSONAL EMOLUMENTS AND PROJECTS IN THE PUBLIC WORKS PROGRAMME.

THE ACCOUNTS FOR MARCH, THE LAST MONTH OF THE FINANCIAL YEAR, SHOWED A DEFICIT OF $31.6 MILLION, COMPARED WITH A DEFICIT OF $438.8 MILLION FOR THE SAME MONTH LAST YEAR.

THE DIFFERENCE IS DUE MAINLY TO THE PAYMENT IN MARCH 1974 OF $300 MILLION TO THE MASS TRANSIT FUND AND THE RECEIPT OF ALMOST $94 MILLION IN REVENUE IN MARCH THIS YEAR FROM THE MASS TRANSIT FUND IN ADJUSTMENT OF PAYMENTS PREVIOUSLY MADE FOR STAFF COSTS AND PRE-CONSTRUCTION WORK.

TOTAL REVENUE FOR THE MONTH AT $648.7 MILLION WAS $178.2 MILLION MORE THAN IN MARCH 1974. TOTAL EXPENDITURE FOR THE MONTH AMOUNTED TO $680,2 MILLION WHICH WAS $229.1 MILLION LESS THAN THE SAME MONTH LAST YEAR MAINLY BECAUSE OF THE TRANSFER OF $300 MILLION TO THE MASS TRANSIT FUND IN MARCH 1974.

SEWAGE SCREENING PLANT FOR ABERDEEN

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A 125-METRE-LONG SEAWALL WILL BE BUILT TO FRONT SOME 6,000 SQUARE METRES OF RECLAIMED LAND IN ABERDEEN.

THE RECLAMATION IS TO PROVIDE LAND FOR THE CONSTRUCTION OF THE ABERDEEN SEWAGE SCREENING PLANT, THE SUBMARINE OUTFALL AND THE ASSOCIATED ADMINISTRATION BUILDING AND STAFF QUARTERS.

THE ABOVE WORKS FORM PART OF THE PROJECT FOR THE ABERDEEN SEWAGE DISTRICT DEVELOPMENT SCHEME. WORK ON THE SCHEME HAD ALREADY BEGUN LAST SEPTEMBER WITH THE LAYING OF A 900-METRE LONG INTERCEPTING SEWER. WHEN THE SCHEME IS COMPLETED, SEWAGE FROM ABERDEEN DISTRICT WILL BE INTERCEPTED BY A TRUNK SEWER AND CONVEYED TO THE TREATMENT PLANT FOR PROPER TREATMENT AND DISPOSAL.

TENDERS ARE NOW BEING CALLED FOR THE CONSTRUCTION OF THE SEAWALL. WORK IS EXPECTED TO COMMENCE IN SEPTEMBER THIS YEAR AND TAKE 12 MONTHS TO COMPLETE.

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