TNAG-1731-FCO40-2444-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 178

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SPEECH BY THE HONOURABLE THE FINANCIL SECRETARY

ÁN LEGISLATIVE COUNCIL: WEDNESDAY 18 MAY 1988

Address by Member presenting paper

Report of changes to the approved Estimates. of Expenditure approved during the third quarter of 1987-88 Public Finance Ordinance: section 8

FINANCIAL SECRETARY:

In accordance with section 8(8)(b) of the Public

Finance Ordinance, I now table for Members' information a

summary of all changes made to the approved estimates of

expenditure for the third quarter of the financial year

1987-88.

V/ic

7.

Supplementary provision of $549.9 million was

approved, of which $231.7 million was offset either by

savings under the same or other heads of expenditure or by

deletion of funds under the Additional Commitments

subheads. The balance of $318.2 million, being net

supplementary provision, was approved for the early

repayment in full of the four outstanding Asian

Development Bank loans.

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Approved non-recurrent commitments were

increased by $325.6 million during the period, and new

non-recurrent commitments of $810.6 million were also

approved.

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In the same period, a net increase of 1,623

posts was approved.

5.

Sir

Items in the summary have been approved either A by Finance Committee or under delegated authority. The

latter have been reported to the Finance Committee in

accordance with section 8(8)(a) of the Public Finance

Ordinance.