CONFIDENTIAL
DSR 11C
18.
And what would be the relationship of the additional social expendi- ture to the Budget (that is, General Revenue Account expenditure)?
Some 11-12% in 1979/80 (a prestigious sum, therefore, that might, perhaps, fall within the sphere of responsibility of a new Unofficial 'Member' for Social Security):
as per
Total expenditure (recurrent and capital) on General Account, page 113 of the Budget speech, in 1979/80 at 1976 prices amounts to HK$9,140 million, to which should be added the HK$1260 million in question 6 less the HK$70 million for collecting the 'luxuries' tax (question 11). Thus, on the General Account, revised social expenditure (HKX1190 million) represents 11.4% of revised total expenditure (HK$10,400 million).
CONFIDENTIAL
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