TNAG-2472-FCO40-3599-Confidential-talks-between-the-UK-and-China-regarding-financ-1992 — Page 8

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The

As shown in Table A, the six departments each with recurrent expenditure in excess of $1 billion together with the Hospital Authority and Universities & Polytechnics account for over half of the total. two biggest Departments together with the Hospital Authority and Universities & Polytechnics account for 45% of the total.

Table B shows the Government's recurrent expenditure by financial components.

Personal emoluments

represent more than 60% of the total.

The Government's capital expenditure profile is shown

in Table C.

Main sources of revenue

Total Government revenue in 1992-93 is estimated to be $126 billion, of which internal revenue accounted for about 56% (or $71 billion).

of this $71 billion, profits

represents about 70% ($50 billion). Other internal

revenue

includes

hotel

(12%),

and salaries tax

stamp duty (11%),

tax bets

accommodation,

entertainment,

air

estate duty and taxes on personal assessment,

property, passenger departure and passage by the cross-harbour tunnel (7%).

The remaining 44% (or $55 billion) of estimated total Government revenue includes mainly revenue from rates ($5.3 billion),

levied on five groups of

commodities

alcoholic hydrocarbon oils,

liquors,

-

duties