Fund Accounts Draft Estimates
84.
For the
capital nature is
$10.7 billion (27).
various funds from which expenditure of a
financed, I propose total expenditure of This compares with a revised estimate for
the current year of $9 billion.
85.
The growth in expenditure is partly accounted
for by
the further equity injection of $1 billion into the MTRC, which
the Government is committed to make in 1987-88. It also
reflects provision for higher capital expenditure. As I mentioned earlier, capital spending has fallen substantially in
recent years. There is now some scope for tackling the list of outstanding projects. Whilst I have had regard to the recurrent consequences of projects once completed, I propose to
to allocate
$6 billion for new projects starting in 1987-88, which is
$1.2 billion more than for the current year.
86.
Allowing for inevitable lead times, it will take a while for this boost in capital spending to be reflected in cash
flows.
For 1987-88 there is room for more immediate
expenditure, which will have a positive impact on
a positive impact on Government's
(27) 1987-88 Fund Accounts
-
Draft Estimates
Expenditure Revenue
Net Expenditure
($mn)
($mn)
($mn)
Capital Works Reserve Fund
7,050
2,220
4,830
(excluding Suspense Account)
Development Loan Fund
1,690
635
1,055
Home Ownership Fund
752
1,797
(1,045)
Student Loan Fund
103
76
27
Mass Transit Fund
1,102
1,102
10,697
4,728
5,969
Transfer from General
Revenue Account
Net increase in balances
25
6,600
631
/longer
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