WEDNESDAY, MARCH 2, 1988
PUBLIC FINANCIAL
ON THE PRESENT STATE OF THE GOVERNMENT'S SAID THE EXPECTED POSITION AT THE END OF THE WAS ONE OF HIGHER THAN FORECAST REVENUE YIELDS CLOSE TO BUDGET.
FINANCES, HE YEAR 1987-88 BUT WITH EXPENDITURE
BEGAN IN 1986-87 HA9 ECONOMIC GROWTH
"THE SURGE IN GOVERNMENT REVENUE WHICH CONTINUED THROUGH 1987-88. TWO YEARS OF DOUBLE-DIGIT HAVE LIFTED OUR REVENUE BASE SIGNIFICANTLY.
11
REVENUE
WAS CLOSE TO
HE SAID THE REVISED ESTIMATE OF EXPENDITURE ON GENERAL ACCOUNT OF $44.5 BILLION, INCLUDING TRANSFERS TO FUNDS, THE ORIGINAL ESTIMATE FOR THE YEAR.
$11.3 BILLION IS ABOUT "EXPENDITURE ON OUR VARIOUS FUNDS OF
QUARTERS FOR FIVE PER CENT ABOVE BUDGET, DUE MAINLY TO A PURCHASE OF THE POLICE FORCE WHICH WAS NOT ALLOWED FOR IN THE ORIGINAL ESTIMATES.
REVENUE ACCOUNT PER CENT ABOVE THE ORIGINAL
"THEREFORE, SPENDING IN CASH TERMS ON GENERAL AND FUNDS TAKEN TOGETHER IS ABOUT ONE ESTIMATES.
FACT,
THE
"NEVERTHELESS, HIGHER THAN EXPECTED INFLATION MEANS THAT 'REAL'
YEAR
IN IS,
BELOW SLIGHTLY EXPENDITURE GROWTH FOR THE BUDGETTED FIGURE, MR JACOBS SAID.
H
GROWTH
WITH AN ORIGINAL
IN CONSOLIDATED ACCOUNT TERMS, HE SAID REAL EXPENDITURE WAS NOW EXPECTED TO BE ABOUT 4.6 PER CENT COMPARED ESTIMATE OF 4.9 PER CENT.
GDP
EXCEPTIONAL GROWTH RATE IN "FURTHERMORE, AS A RESULT OF THE
OF THE ECONOMY, CONSOLIDATED ACCOUNT EXPENDITURE AS A PROPORTION HAS FALLEN FROM 16 PER CENT IN 1986-87 TO AROUND 15 PER CENT.
H
THE ESTABLISHMENT OF CENT WAS IN
WITH LINE
THE
THE
MR JACOBS ADDED THAT THE GROWTH IN
PER THREE CIVIL SERVICE AT JUST OVER BUDGETTED FIGURE.
TRANSFERS TO THE VARIOUS FUNDS FROM GENERAL REVENUE ACCOUNT $6.6 BILLION WOULD BE AS BUDGETTED, HE ADDED.
OF
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