ар
cap
cap
三
The original revenue
revenue estimat
estimates for the year were
pericent
=
23.
8.5 per centon the assumption at that time of GDP growth of around
formed 818 in 1986 and 60 in 1987. As we
we have seen, actual economic
growth has been considerably better. I now expect the revenue
per cent yield on General Revenue Account to be 9 above the original estimate. Combining General Revenue Account and fund account revenue the increase on the original estimate is 11. Stamp duty at $50 billion is nearly double the original estimate; whilst salaries tax, profits tax, motor vehicle first registration tax and land sales revenue, all of which normally benefit from a strong economic performance, also have higher
than expected yields.
ก
(10)
REVENUE 1987-88 $M milliar
REVISED ESTIMATE ORIGINAL ESTIMATE
Development Loan Fund
General Revenue Account
Capital Works Reserve Fund
Home Ownership Fund
50,564
46,177
3,380 767 1,951
2,220
635 1,797
Mass Transit Fund
Student Loan Fund
76
76
lc
Total -funds*
6,174
4,728
le le
TOTAL GENERAL REVENUE
56,738
50,905
ACCOUNT + FUNDS
Excluding transfers from General Revenue Account.
13
/24. As
SOVINGWOOOOOIMA
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