2 -
system in 1976-7 whereby certain departmental receipts, recovered by
departments in the process of providing services to the public, were
used to offset approved expenditure. The upward trend has, however,
been strong and continuous.
5.4
The pace of economic growth gave rise to surpluses from 1969-
70 to 1973-4, with the highest surplus in these years of $640 million
being achieved in 1971-2. There was a net deficit of $380 million in
1974-5, largely because of increased spending on public works, social
welfare, and university and Polytechnic grants. But in subsequent years
growth resumed and the accounts again returned to surplus; a surplus of
$7,881 million has been budgetted for the 1981-82 financial year.
Estimated revenue for 1981-82 is $34,138 million; estimated expenditure is
$25,062 million.
5.5
The highest proportions of revenue are estimated to be derived
in 1981-82 from internal revenue (37.3 per cent), land transactions
(34.6 per cent), revenue from properties and investments (9.9 per cent)
and general rates (3.1 per cent). The proportion derived from land
transactions has increased considerably in recent years (standing at
17.3 per cent of revenue in the 1979-80 revised estimate). The percentage
distribution of government expenditure by function for the period 1977-81
is shown in the following table:
(Percentage distribution)
Actual
1977-78 1978-79
Actual
1979-80 1980-81 Revised Actual
Estimate
Social services
43.5
43.5
44.0
45.4
Community services
25.4
24.2
23.0
21.3
General services
16.3
17.7
16.3
18.1
Economic services
6.4
6.4
6.9
7.1
Other expenditure
8.4
8.2
9.7
8.1
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