TNAG-1641-FCO40-2288-Budget-of-Hong-Kong-1987 — Page 191

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41

6.2.87

General Revenue Account - Summary of Draft Estimates

80.

Taken together, therefore, the draft estimates

of revenue and expenditure on General Revenue Account show

a surplus of $2.1 billion before taking into account any

revenue proposals (26).

SA.

After a period of difficult restructuring, we

now have a budgetary position of some strength. As I have

already mentioned, there exists a little room for easing

the additional burden on taxpayers that was necessary in

the period of adjustment. At the same time in order to

maintain yields in real terms, I intend to review some

taxes and charges which are fixed in cash terms.

(26)

Recurrent ($mn)

Capital ($mn)

Total ($mn)

Revenue

45,624

878

46,502

Expenditure (excluding

transfers to funds)

35,788

2,021

37,809

Surplus

9,836

(1,143)

8,693

Less transfers to funds

6,600

Surplus before revenue

2,093

proposals

325

Less cost of revenue

proposals

Surplus

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1,768