ENG-1978 — Page 346

264

Appendix 9

(Chapter 3: Financial Structure)

Comparative Statement of Recurrent and Capital Income and Expenditure

265

$ Million

Income

Expenditure

Actual 1976-7

Actual 1977-8

Estimate 1978-9

Actual

Actual

1976-7

1977-8

Recurrent Account

Direct taxes

Earnings and profits tax

Recurrent Account

Personal emoluments

2 135.0

2475.0

Estimate 1978-9

2771.3

2 698.7

3 357.2

3 990.0

Departmental recurrent expenditure

793-8

844.6

1 064-0

Duties

Indirect taxes

General rates

680.7

733.6

741.8

Public Works Recurrent

287.1

457-6

472-4

618.7

722.9

795.0

Subventions

1 121.7

1 327.0

1 524.4

Internal revenue (note 1)

730.3

872.2

924.0

Motor vehicles taxes

102.0

148.0

165.0

University and Polytechnic Grants Committee

255.4

306.8

332.7

Franchises

51.3

63.4

73.9

Defence

194-8

270-3

329-3

Airport concessions

61.8

71.0

74-7

Pensions

193.9

233.9

256.6

Other revenue

Miscellaneous

241.7

304-0

571-8

Fines, forfeitures and penalties

70.5

86.3

92.0

Licences (note 2)

237.0

267.4

280-0

Transfer to Capital Account

723-4

695.8

1 707.4

Fees and receipts

417.4

509.6

496.1

Surplus

902-6

1235-7

Revenue from properties and investments

322-9

375-2

371-3

Reimbursements

140·0

231.8

224-3

Water

222.2

206.7

229.0

Postal services

288-0

266.6

286-1

Airport and air services

175.2

200-3

223.8

Kowloon-Canton Railway

32.7

38.5

43.1

Deficit

19.8

6 849-4

8 150-7

9 029.9

6 849.4

8 150-7

9 029.9

Capital Account

Direct taxes

Estate duty

Indirect taxes

Taxi concessions

Other revenue

Capital Account

Public Works Programme (other than New Towns and

85.2

109.7

120-0

Housing)

Building

143.7

169.9

178-9

112-4

240-0

Engineering

254.9

406.3

440.8

Waterworks

268-4

107.3

138-2

Land sales

557-3

1 831-3

874-5

Public Works Non-recurrent: Headquarters

60.1

69-2

99.9

Loan repayments

1.6

Loans and grants

1.6 26.9

1.5

Public Works Programme (New Towns and Housing) Transfer to Development Loan Fund for Housing Authority

400-9

684.2

750-2

100.0

400.0

Deficit on Capital Account met by transfer from Revenue

Account

723.4

695.8

1 707-4

Transfer to Home Ownership Fund

587-1

399.4

Other capital expenditure

Subventions

32.1

52.5

113.9

University and Polytechnic Grants Committee

40.1

24.5

70.8

Departmental special expenditure

74-4

76.2

201-0

Defence Costs Agreement: Capital works

22.0

23.4

29.5

Miscellaneous (including public debt)

70-9

477-1

120.8

1 367.5

2777-7

2 943-4

1367.5

2777-7

2943.4

Note: 1 Comprising taxes on bets and sweeps, entertainment, hotel accommodation and stamp duties,

2 Including business registration fees.