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Supplementary Questions
Sir,
Whilst I can accept the FS's general contention that the additional surplus of $53 million is not all that significant in terms of overall budgetary policy, would he agree that it is a substantial sum of money almost sufficient, indeed, to finance the cost of the Government Secretariat for
a year?
Answer
Up to a point, Sir, Miss Dunn has a point, and I agree $53 million is, in itself, a substantial sum of money.
Question
Is not the present state of our reserves such as to make it possible for the Government to consider new expenditure proposals sympathetically?
Answer
Sir, so far as I am aware the Estimates of Expenditure recently approved by this Council will enable the Government to implement its policies and programmes in 1977-78 in accordance with agreed timing. I am not suggesting that the Estimates as approved will not have to be amended during the year. This is inevitable. But our supplementary provision procedure, linked with the unforeseeable commitments vote of $100 million, provides for this and, given the present state of our finances, I would not regard this figure of $100 million as a rigid limit of net additional provision, always provided that we constantly bear in mind the value for money criterion. But let me say this: the Estimates list authorities for expenditure and reflect the Government's intentions to the fullest possible extent having regard to general fiscal and economic considerations. So may I suggest that we should concentrate on using up, as it were, these authorities and fulfilling these intentions. Surpluses (or deficits for that matter) which arise from genuinely unexpected flushes (or shortfalls) of revenue in any year are on thing:
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