18
(i)
Current state of Public Finances
35.
It is important to remember this lesson now when, because of our excellent economic performance, the public finances are in good shape and revenue has been boosted, particularly in such areas as profits tax, stamp duty and land sales. Despite this welcome situation we must remain prudent. If we allow public spending to grow too fast now when the economy is doing well, it will be hard to rein it back in less buoyant times. It therefore
remains the Government's policy
policy to manage the public
finances with care and with close attention to longer-
term trends in the economy.
36.
Nevertheless, our present economic situation does provide some scope for expanding public services and responding to new needs. I will be indicating later in this speech some of the areas in which expansion can be expected. These will be within the constraint that we shall try to limit the growth of the civil service to not
Recent
三 more than 2 in any one year.
Z
(ii) Resource Allocation System
I should now like to refer to the new
37.
arrangements which are being
introduced
to improve the
/Government's
قت
No comments yet.
Private notes are available after approval.