ENG-1988 — Page 419

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Appendix 11

(Chapter 5: The Economy)

Total Government Revenue and Expenditure

Revenue

Actual 1986-87

Actual 1987-88

$ Million

Original Estimate 1988-89

363

Actual

$ Million

Original Estimate

Expenditure

Actual

1986-87

1987-88

1988-89

Direct taxes

Indirect taxes

Duties

General rates

Internal revenue (Note)

Motor vehicle taxes

Operating Revenue

Earnings and profits tax

Operating Expenditure

18,751

24,772

23,735

Recurrent Expenditure

Personal Emoluments

12,184

13,500

14,190

Personnel Related Expenses

1,360

1,496

1,705

3,467

3,389

4,341

Pensions

1,290

1,350

1,409

1,188

1,373

1,525

Departmental Expenses

3,159

3,557

3,750

6,896

9,723

8,193

Other Charges

5,157

5,545

5,235

964

1,448

1,596

Subventions-

Royalties and concessions

465

511

549

Education

4,883

5,349

5,577

Other revenue

Medical

1,219

1,342

1,420

Fine, forfeitures and penalties

405

462

447

Miscellaneous

533

593

765

Revenue from properties

625

761

646

Social Welfare

504

637

789

Reimbursements and contributions

1,491

1,528

1,579

University and Polytechnic Grants Committee

1,799

1,957

2,154

Utilities-

Vocational Training Council

335

403

462

Airport and air services

834

999

1,139

Car parks

Capital Expenditure of a Regular Nature

1,281

1,693

1,290

5

Ferry terminals

114

Additional Commitments

3,820

Government quarries

41

16

30

Postal services

1,094

1,240

1,336

Tunnels

133

149

161

Water

900

1,003

1,176

Fees and charges

3,475

4,804

4,529

Interest

1,160

1,372

1,878

Total Operating Revenue

41,894

53,555

52,979

Total Operating Expenditure

33,704

37,422

42,566

Capital Revenue

Direct taxes

Capital Expenditure

Estate duty

Indirect taxes

Taxi concessions

General Revenue

518

486

340

Refund of land premia

123

82

Funds

120

50

Other revenue

Capital works reserve fund

6,432

7,316

10,180

Land transactions

Development loan fund

1,595

1,737

1,790

756

461

337

Others

Home ownership fund

713

714

800

Student loan fund

81

77

109

Repayment of loans and other funds revenue

620

20

34

Mass Transit fund

54

1,109

95

Capital works reserve fund (Land sales and interest)

2,330

3,513

4,480

Development loan fund

652

810

786

Home ownership fund

1,686

1,835

1,981

Student loan fund

64

75

83

Total Capital Revenue

6,708

7,320

8,091

Total Capital Expenditure

8,998

10,953

12,974

Total Government Revenue

48,602

60,875

61,070

Total Government Expenditure

42,702

48,375

55,540

Note: Comprising taxes on bets and sweeps, entertainments, hotel accommodation, air passenger departures, Cross-Harbour Tunnel passages

and stamp duties.