TNAG-1641-FCO40-2288-Budget-of-Hong-Kong-1987 — Page 190

11.2.87

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40

General Revenue Account - Draft Estimates of Revenue

78.

Turning now to revenue, before allowing for

any new budgetary measures, total revenue on General

Revenue Account is estimated to be $46.5 billion (25).

This estimate reflects the good economic performance we

have enjoyed in the current year, which will still be

feeding through into tax receipts in 1987-88.

79.

As in 1986-87, profits tax receipts are again

expected to run ahead of economic growth. But I must be

cautious in estimating the yield in some other areas where

the level of activity in 1986 might not be fully sustained.

(25)

Recurrent revenue Capital revenue

SECRET

Draft Estimates

1987-88 T$mn]

45,624 878

46,502