TNAG-1641-FCO40-2288-Budget-of-Hong-Kong-1987 — Page 178

4.2.87

SECRET

28

REVISED ESTIMATES 1986-87

53.

Before introducing the estimates for 1987-88, I

shall describe the revised estimates of Government's

expenditure and revenue for the current fiscal year.

54.

Total expenditure on General Revenue Account

before transfers to funds is now expected to be

$33.9 billion, which is in line with budget. We are

seeing the results of another year of tight budgetary

performance. All controlling officers have played their

part and I am grateful to them. Our system of cash limits

is clearly effective.

55.

In practice the combined effect of the two pay

awards to staff granted during 1986 was slightly more than

had been anticipated in framing the budget. But this was

offset by some under-spending on non-staff departmental

running costs and an adjustment to payments under the

Defence Costs Agreement.

SECRET

L