TNAG-0860-FCO40-1070-Legislation-for-merchant-shipping-in-Hong-Kong-1980 — Page 25

sir,

SPEECH BY MR. D.G. JEAFFRE SON, ACTING FINANCIAL SECRETARY, IN THE LEGISLATIVE COUNCIL ON 12TH DECEMBER 1979

Supplementary provisions for the quarter

ended 31st March 1979 (Final)

I move the motion standing in my name in

the Order Paper.

2.

The schedule of supplementary provisions for

the final quarter of the financial year 1978-79 covers

a total amount of 86 million dollars,

Of this sum,

31 million dollars was required to cover the net

expenditure of the unallocated stores account of the

Government Supplies Department; 24 million dollars was

required to meet additional expen.iture on welfare

allowances arising from a lowering of the qualifying age

for the old age allowance; 14 million dollars was required

to augment personal emoluments subheads on account of

the 1978 salaries revision; and 7 million dollars was

required for public works projects.

3.

But

This schedule brings the total supplementary

provisions for 1978-79 to 2,102 million dollars.

because of savings in other subheads, actual total

expenditure at 11,90 million dollars for the full

financial year 1978-79 in the event was 824 million dollars

more than the original estimates.

4.

The Finance Committee has approved all the

items in the schedule. The purpose of this motion is

simply to seek the covering authority of this Council.

5.

Sir, I beg to move.