57.
Another area of special concern is law and order. Let me make it clear at the outset that the Police and the other disciplined services have been given the funds they need to do the job.
58.
Taking the Police, for example, the operational funds allocated to them in last year's Budget came to nearly $6 billion. Only the education of our children and the hospital services received larger allocations. This year, spending on the police force will continue to rise in real terms.
59. I have provided the finance to cover every police officer the Commissioner believes he can recruit. At the same time, we are providing the equipment so that police officers can operate at maximum efficiency. The shopping list here is extensive. We spent more than $44 million last year upgrading computer facilities. New launches to strengthen the marine police in their fight against smuggling and other cross-border crime are being bought at a cost of $300 million.
60.
But this investment in recruitment, training and equipment must also be matched by a continuing effort to achieve even greater efficiency and to redeploy manpower and other resources to where they are most needed.
61.
There are of course a number of other programme areas, all important. Further details of the main areas of expansion, and an analysis of total expenditure by programme area, are given in Appendices to this Speech.
62. We must accept the challenge that the community will go on setting higher standards for us to achieve. But I must emphasise that if we are to reach our goals and provide the quality of life we want for all our people, then it is essential that we really do review our priorities and then redeploy resources as necessary.
63. To put total government expenditure in 1992-93 in perspective, it will be equivalent to 18.8% of estimated GDP, a modest increase over the previous year's figure of 17.8%. Arguably, this ratio is not the best indicator of the Government's share in the total output of goods and services. A better measure may be the proportion of GDP accounted for by the public sector in our national income accounts. This ratio will increase very little next year above the 1991-92 figure of 11.5%.
Revenue Estimates 1992-93
64. Revenue for 1992-93 before the new measures and other adjustments would total $127.6 billion. This figure would represent a rise of 20.3% over the original estimate for 1991-92. This increase reflects the recent spurt in economic growth we have enjoyed, which we expect will boost the revenue from earnings and profits tax. Revenue from land sales will also continue at a high level. Receipts from betting duty should rise substantially. The proceeds from stamp duty, however, are forecast to decline..
65.
On the basis of these estimates, the surplus in the coming year would be around $4 billion. If a further $2.4 billion from our bond programme is added to this, by the end of March 1993, our fiscal reserves would total $98.2 billion.
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