TNAG-1725-FCO40-2438-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 36

DRAFT ESTIMATES 1988-89

52.2

Against this background, I now present the draft

chp estimates of expenditure, the revenue estimates and my revenue

dotte 191

сар

cap

proposals for 1988-89.

Draft Estimates of expenditure

Dealing first with expenditure, the Medium Range Forecast, on which my budget for 1987-88 was based, indicated that expenditure growth was expected to peak in 1988-89 due to the timing of payments in respect of the Kowloon Walled City

clearance. As Members will see from the

the updated Medium Range

Forecast, this is still the case. The draft Estimates I submit

today show expenditure on General Revenue Account of $50 billion including transfers to funds. Expenditure on our various funds is estimated to be $13.0 billion. Taking General

Revenue Account and funds together, but excluding transfers,

per cent these estimates represent an increase of about 130 in cash terms over the revised estimate for

for 1987-88 (22). This figure of

сар сар

(22)

3

DRAFT EXPENDITURE ESTIMATES 1988-89 $M

milli

REVISED ESTIMATES

1987-88 SM.

million

General Revenue Account

49,976

le

Less transfers to

Funds

7,410

44,474 6,600

42,566

37,874

Capital Works Reserve Fund

10,180

7,700

Development Loan Fund

1,790

1,638

Home Ownership Fund

800

751

Mass Transit Fund

95

1,109

Student Loan Fund

Total - Funds

109

93

12,974

11,291

le

TOTAL GENERAL REVENUE

ACCOUNT + FUNDS

le (excluding transfers to Funds)

55,540

49,165

:

26

/$50.0 billion