20.
The revised estimate of expenditure on General Revenue Account of $44.5 billion, including transfers to funds, is close to the original estimate for the year. Expenditure on our various funds of $11.3 billion is about 5% above budget, due mainly to a purchase of quarters for the Police Force which was not allowed for in the original Estimates. Therefore, spending in cash terms on General Revenue Account and funds taken together is about 1% above the original Estimates (7). Nevertheless, higher than expected inflation means that 'real' expenditure growth for the year is, in
fact, slightly below the budgetted figure.
(7)
EXPENDITURE 1987-88 $M
REVISED ESTIMATE ORIGINAL ESTIMATE
General Revenue Account
Less transfers to Funds
44,474 6,600
44,409 6,600
37,874
37,809
Capital Works Reserve Fund
7,700
7,050
Development Loan Fund
1,638
1,690
Home Ownership Fund
751
752
Mass Transit Fund
1,109
1,102
Student Loan Fund
93
103
<
Total Funds
11,291
10,697
TOTAL GENERAL REVENUE
ACCOUNT + FUNDS
(excluding transfers to Funds)
49,165
48,506
/21. In
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