XN000022-1991-03-06 — Page 23

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4

WEDNESDAY, MARCH 6, 1991

SIGNIFICANT IMPROVEMENTS IN PUBLIC SERVICES PROMISED

MEMBERS OF THE PUBLIC WILL STILL ENJOY SIGNIFICANT IMPROVEMENTS

AND ADDITIONAL

EXPENDITURE ARE

IN THE PROVISION OF PUBLIC SERVICES BEING PLANNED TO ACHIEVE THESE, THE FINANCIAL SECRETARY, THE PIERS JACOBS, SAID TODAY (WEDNESDAY).

HON SIR

AND

SERVICES AS A SIR PIERS EMPHASISED THAT SPENDING ON PUBLIC WHOLE WAS NOT BEING CUT BACK IN ORDER TO PAY FOR THE NEW AIRPORT OTHER ESSENTIAL CAPITAL PROJECTS.

HAVE "I

ALREADY

OUR EMPHASISED

EXPENDITURE AT LEVELS THE ECONOMY CAN SUPPORT.

TO DETERMINATION

KEEP

"SO WE CONTINUE TO PLAN THE GROWTH IN EXPENDITURE BY TO THE EXPECTED GROWTH IN THE ECONOMY.

REFERENCE

"OUR FORECASTS OF ECONOMIC PERFORMANCE OVER THE NEXT FEW YEARS

SHOW THAT WE WILL NOT BE ABLE TO ALLOW EXPENDITURE TO GROW AS

門 SIR PIERS NOTED. AS HAS BEEN THE CASE IN RECENT YEARS,

PRESENTING THE DRAFT ESTIMATES EXPENDITURE

SIR

POINTED

QUICKLY

1991-92

PROVIDED

FOR WHICH IN

HIS IN

PIERS

OUT

THE ESTIMATES THAT BUDGET, EXPENDITURE FROM GENERAL REVENUE ACCOUNT OF $73.6 BILLION, MONEY TERMS WAS 17 PER CENT ABOVE THE REVISED ESTIMATE FOR 1990-91.

"IN

ADDITION, THERE WILL BE TRANSFERS TOTALLING $26.7 TO FUNDS, THUS BRINGING THE TOTAL AMOUNT TO BE APPROPRIATED TO BILLION.

BILLION $100.3

LOAN

CENT

OVER

"EXPENDITURE FROM THE CAPITAL WORKS RESERVE FUND AND THE FUND IS ESTIMATED AT $27.7 BILLION, AN INCREASE OF 37 PER 1990-91," SIR PIERS SAID.

TOTALLING

$3.5

45

PER

OF

HE SAID EQUITY INVESTMENT IN STATUTORY BODIES BILLION WOULD BE MADE FROM THE CAPITAL INVESTMENT FUND, SOME

RESCHEDULING CENT LESS THAN IN 1990-91, MAINLY AS A RESULT OF A INJECTIONS OF CAPITAL INTO THE HOUSING AUTHORITY.

IN

THE SUM,

TOTAL HE SAID, ESTIMATED AT $104.8 BILLION, AN INCREASE CURRENT FINANCIAL YEAR.

EXPENDITURE GOVERNMENT

OF 17 PER CENT OVER

WAS

THE

THE GENERAL COMMITMENTS τό FIGURES FOR

SIR PIERS SAID THE ESTIMATE OF $73.6 BILLION FOR REVENUE ACCOUNT INCLUDED $6.5 BILLION FOR ADDITIONAL COVER ITEMS FOR WHICH THE GOVERNMENT DID NOT HAVE FIRM INCORPORATION IN THE DETAILED ESTIMATES.

"AS

THE

WAS THE CASE LAST YEAR, SOME PROVISION IS MADE WITHIN ADDITIONAL COMMITMENTS FOR THOSE COSTS OF THE HOSPITAL AUTHORITY WHICH HAVE YET TO BE DETERMINED,

HE SAID.

HE. SAID EXPENDITURE FROM THE CAPITAL WORKS RESERVE BILLION, WOULD ALLOW FOR A 36 PER CENT INCREASE IN ON PUBLIC WORKS PROJECTS.

$25.7

FUND, AT EXPENDITURE

/"PART OF