TNAG-0761-FCO40-965-Budget-of-Hong-Kong--1978-1979-1978 — Page 88

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(15% in money terms compared with

the budget forecast of 13%), other

internal revenue is up by $114

million (largely bets and sweeps

tax: $+85 million);

reimbursements

(mainly from the MTRC) are up by

$M

$135 million; and postal revenue

is up by $29 million

+

561

yields from land sales

Capital revenue:

are up by $200 million and estate

duty by $22 million

Recurrent expenditure: only up by

$4 million, despite the 1977

salaries revision which cost us

$260 million (but this was

absorbed by unexpected savings

in PE subheads) and net

supplementary expenditure of

$80 million (net after allowing

for the Unforeseen Commitments vote

and declared offsetting savings).

Compare performance (actuals

compared with estimates) in last

two years:

1975-76

1976-77

$M

-168

.......

66

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261

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/ Capital