TNAG-1361-FCO40-1807-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 165

46.

will

小高度機密

To complete the

the background to the budget proposals I

to date on the present state of the

now bring you up

Government accounts.

Revised Estimates 1984-85

47.

•

On General Revenue Account the budget for 1984-85 envisaged a deficit of $2.1 billion (14). In the event revenue is close to our target and expenditure lower than expected The revised estimates of revenue (excluding the $1 billion yield from the bond issue) and expenditure are respectively $34.9 billion and $36.7 billion. I therefore expect the outturn for this year to be a deficit of about $1.8 billion (15). Because of the bond issue the actual shortfall is $1 billion less, but we must not be misled by this.

48.

On recurrent account, revenue in 1984-85 is expected to be marginally lower than the original estimate by about $200

(14) i.e. $2,139 million: the difference between estimated revenue of

$35,194 million and estimated expenditure of $37,333 million.

(15)

Original

Revised

($mn)

($mn)

($mm)

($mn)

Recurrent Account:

Revenue

30,464

30,262

Expenditure

26,933

3,531

26,259

4,003

Capital Account:

Revenue

4.730

4,666

Expenditure

10,400

-5,670

10,426

-5,760

Deficit

-2,139

-1,757

The

revised estimates

are based on a maximum of nine months'

performance.

G.F. 316

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