XN000022-1984-10-10 — Page 2

WEDNESDAY, OCTOBER 10, 1984

CONTROLS ON SPENDING WORKING WELL, FS SAYS

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CONTROLS ON PUBLIC EXPENDITURE WERE WORKING WELL, THE FINANCIAL SECRETARY, SIR JOHN BREMRIDGE TOLD THE LEGISLATIVE COUNCIL TODAY.

HE MADE THE COMMENT WHEN TABLING THE SCHEDULE OF SUPPLEMENTARY KIVISION FOR THE FINAL QUARTER OF THE FINANCIAL YEAR 1983-84, COVERING A TOTAL OF $12.8 MILLION.

SIR JOHN EXPLAINED THAT OF THE AMOUNT, $10.5 MILLION WAS FOR VARIOUS SALARY ADJUSTMENTS AR ISING MAINLY FROM THE 1983 PAY INCREASE FOR THE CIVIL SERVICE, AND $1.5 MILLION WAS FOR A LOAN TO THE HONG KONG ARTS CENTRE.

THERE WAS NO NET INCREASE IN EXPENDITURE RESULTING FROM THE SUPPLEMENTARY PROVISION COVERED BY THE SCHEDULE, HE SAID.

+ IT WAS OFFSET EITHER BY SAVINGS UNDER THE SAME HEAD OF EXPENDITURE OR BY THE DELETION OF FUNDS UNDER THE ADDITIONAL COMMITMENTS VOTES.

+THE CONTROLS ARE WORKING WELL,+ SIR JOHN SAID.

ALL EXCEPT ONE OF THE ITEMS INCLUDED IN THE SCHEDULE HAD BEEN APPROVED UNDER DELEGATED AUTHORITY AND RESULTING CHANGES TO THE APPROVED ESTIMATES OF EXPENDITURE HAD BEEN REPORTED TO THE FINANCE COMMITTEE. THE REMAINDER HAD BEEN APPROVED BY THE FINANCE COMMITTEE, HE SAID.

1983-84 DEFICIT $100 MILLION BELOW ESTIMATE

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THE FINAL DEFICIT FOR FISCAL 1983-84 WAS MORE THAN $100 MILLION BELOW HIS APRIL ESTIMATE, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID IN THE LEGISLATIVE COUNCIL TODAY.

ACTUAL REVENUE FOR THE FINANCIAL YEAR WAS $30 400 MILLION AND THE FINAL DEFICIT WAS $2 993 MILLION, COMPARED WITH AN ESTIMATED DEFICIT OF $3 100 MILLION, SIR JOHN SAID, IN MOVING THE SECOND READING OF THE SUPPLEMENTARY APPROPRIATION (1983-84) BILL 1984.

THE BILL SEEKS TO GIVE FINAL LEGISLATIVE AUTHORITY FOR THE AMOUNT OF SUPPLEMENTARY PROVISION APPROVED IN RESPECT OF PARTICULAR HEADS OF EXPENDITURE BY THE FINANCE COMMITTEE OR UNDER POWERS DELEGATED BY IT.

THE TOTAL NET SUPPLEMENTARY APPROPRIATION REQUIRED WAS $537.7 MILLION UNDER 31 HEADS.

/SIR JOHN