TNAG-0621-FCO40-769-Budget-of-Hong-Kong-1977 — Page 105

VODE IN-//

ewast

Mr Stewart (HKD)

HONG KONG BUDGET, 1977

1.

CONFIDENTIAL

Reference.....

3

RECE IN

P-A

RE

21 FEB 1977

HKK 100

00/2

In view of our expectations receiving advance news from the Governor this week and briefing for Lord Goronwy-Roberts' forthcoming visit, it might be useful to have at hand a synopsis of what might reasonably be expected.

2.

Drawing on last year's Budget Speech by the Financial Secretary, I would suggest we should expect the forthcoming Budget speech to be based on the following synopsis:

(a)

the economy of Hong Kong in the 1970s, including a forecast for the period 1977/80 and a section on the Hong Kong dollar;

(b) public finances, including a forecast of expenditure £ 1977/8 to 1980/1;

(c)

(d)

the Budget for 1977/8 including sections on:

(i) strategy

(ii) expenditure

(iii) revenue

(iv) proposed changes

(v) economic implications of the Budget;

forecasts for 1978/9 to 1980/1, including sections of the recurrent and capital accounts and fiscal reform (report of the Inland Revenue Ordinance Review Board).

8 February 1977

Aiman fim r

Adrian Smith

Senior Economic Adviser G72/G

8815

CONFIDENTIAL

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