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    (Macroeconomics) Hkbudget

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    Davidsarney
    The document summarizes the budget of the Hong Kong government for fiscal years 1997/1998 and 1998/1999. It shows revenues, expenditures, expected balances, and growth rates. Public expenditures increased by 14.4% and 6.9% respectively in nominal and real terms between the two years. The largest areas of spending were education, housing, support services, health, and security. It also provides a breakdown of revenue sources, with direct taxes accounting for 35% and indirect taxes 19% of the total government revenues in 1998/1999.

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    (Macroeconomics) Hkbudget

    Uploaded by

    Davidsarney
    19 views3 pages
    The document summarizes the budget of the Hong Kong government for fiscal years 1997/1998 and 1998/1999. It shows revenues, expenditures, expected balances, and growth rates. Public expenditures increased by 14.4% and 6.9% respectively in nominal and real terms between the two years. The largest areas of spending were education, housing, support services, health, and security. It also provides a breakdown of revenue sources, with direct taxes accounting for 35% and indirect taxes 19% of the total government revenues in 1998/1999.

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    (macroeconomics) hkbudget

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    The document summarizes the budget of the Hong Kong government for fiscal years 1997/1998 and 1998/1999. It shows revenues, expenditures, expected balances, and growth rates. Public expenditures increased by 14.4% and 6.9% respectively in nominal and real terms between the two years. The largest areas of spending were education, housing, support services, health, and security. It also provides a breakdown of revenue sources, with direct taxes accounting for 35% and indirect taxes 19% of the total government revenues in 1998/1999.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    19 views3 pages

    (Macroeconomics) Hkbudget

    Uploaded by

    Davidsarney
    The document summarizes the budget of the Hong Kong government for fiscal years 1997/1998 and 1998/1999. It shows revenues, expenditures, expected balances, and growth rates. Public expenditures increased by 14.4% and 6.9% respectively in nominal and real terms between the two years. The largest areas of spending were education, housing, support services, health, and security. It also provides a breakdown of revenue sources, with direct taxes accounting for 35% and indirect taxes 19% of the total government revenues in 1998/1999.

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    © All Rights Reserved
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    of 3

    Public Finance

    Appendix : The Budget of Hong Kong Government

    Items H K $ Billion
    Budget – 97 / 98 Budget – 98 / 99
    Government Revenues 234.7
    Government Expenditures 203.0
    Public Expenditures 248.4 288.89
    Expected Balance ( Surplus ) 31.7 ( 74.1 )
    Consolidated Reserves ( Fiscal reserves + Land Fund ) 359.3
    Revenues from the sales of land 33.56 ( 71.9 ) 50.4

    Growth in GDP ( nominal term ) 13.4


    Growth in GDP ( real term ) 5.0
    Growth in Public Expenditures ( nominal term ) 14.4
    Growth in Public Expenditures ( real term ) 6.9
    Public Expenditures ( Fiscal Year ) / G D P ( Calendar Year ) 18.3 19.2

    By Policy Area Group Budget – 1997 / 98 Budget – 1998 / 99


    $ Billion Real Growth Rate $ Billion Real Growth Rate
    1 Education 45.30 7.7 53.2 1.4
    2 Housing 32.14 16.0 48.92 52.1
    3 Support 33.98 6.9 33.13 0.7
    4 Health 28.20 5.7 31.47 5.6
    5 Security 25.60 -3.1 27.34 4.4
    6 Infrastructure 28.14 8.1 26.77 4.0
    7 Social Welfare 21.20 9.1 26.25 10.6
    8 Economic 11.60 3.4 19.26 33.1
    9 Community & External Affairs 14.10 13.0 16.13 9.4
    10 Environment 8.08 14.4 6.43 -14.9
    Total Public Expenditures 248.4 288.89

    3 Central Management of the Civil Service / Compliants Against Maladministration /


    Constitutional & Transitional Affairs / Intra-Governmental Services /
    Revenue Collection & Financial Control / Support for Members of the Legislative Council.

    5 Immigration Control / Internal Security / Administration of Justice / Anti-Corruption /


    Legal Administration / Legal Aid

    6 Buildings, Lands & Planning / Transport / Water Supply.

    8 Air & Sea Communications / Employment / Financial Services / Food Supply /


    Posts, Telecommunications & Power / Public Safety / Trade & Industry / Travel & Tourism.

    9 District & Community Relations / Recreation, Culture & Amenities / Broadcasting & Entertainment

    Note / HK Budget / P. 1
    Public Finance
    Appendix : The Budget of Hong Kong Government

    Items H K $ Million
    Budget – 98 / 99 Budget – 99 / 00
    Government Revenues 212 830 205 100
    Government Expenditures 245 096 241 600
    Public Expenditures 275 125 301 300
    Expected Balance ( Deficit ) ( 322 66 ) ( 365 00 )
    Reserves ( 458 000 in 97/98 ) 457 543 389 000

    Growth in GDP ( nominal term ) - 4.1 6.6


    Growth in GDP ( real term ) - 5.1 3.5
    Growth in Public Expenditures ( real term ) 11.5 4.3
    Public Expenditures ( Fiscal Yr ) / GDP ( Calendar Yr ) 21.3 21.3

    By Policy Area Group Budget – 1998 / 99 Budget – 1999 / 00


    $ Million Real Growth $ Million Real Growth
    Rate Rate
    1 Education 50 780 18.5 55 185 19
    2 Housing 40 840 14.8 46 410 16
    3 Support 30 670 11.2 33 830 11.7
    4 Health 31 080 11.3 32 780 11.3
    5 Security 26 030 9.5 28 080 9.7
    6 Infrastructure 22 935 8.3 24 750 8.5
    7 Social Welfare 26 940 9.8 30 700 10.6
    8 Economic 24 600 8.9 16 115 5.6
    9 Community & External Affairs 14 790 5.4 16 360 5.6
    10 Environment 6 460 2.3 5 920 2.0
    Total Public Expenditures 275 125 290 130

    3. Central Management of the Civil Service / Compliants Against Maladministration /


    Constitutional & Transitional Affairs / Intra-Governmental Services /
    Revenue Collection & Financial Control / Support for Members of the Legislative Council.

    5. Immigration Control / Internal Security / Administration of Justice / Anti-Corruption /


    Legal Administration / Legal Aid

    6. Buildings, Lands & Planning / Transport / Water Supply.

    8. Air & Sea Communications / Employment / Financial Services / Food Supply /


    Posts, Telecommunications & Power / Public Safety / Trade & Industry / Travel & Tourism.

    9. District & Community Relations / Recreation, Culture & Amenities / Broadcasting & Entertainment

    Note / HK Budget / P. 2
    A Chart on Public Finance

    Public Fiannce

    Nature & Meaning

    Size of Budget Budget

    Revenues Financial Year Expenditure

    Non-tax Taxes Nature & Capital


    Revenues Effects Expenditure

    Types Tax Principles Effects Recurrent


    Rates & Aims Expenditure

    Types of Taxes in Hong Kong

    Direct Taxes Indirect Taxes

    Salaries Tax
    Duties Rates Internal Revenues
    Profits Tax
    Betting Duty
    Property Tax
    Stamp Duty
    Estate Duty

    Revised Estimate of the Government Revenues 1998 / 1999 ( By Source )

    Items Amount Percentage


    ( HK$ Million ) Share
    Taxes :
    Direct Taxes 75 420 35 %
    Indirect Taxes 40 128 19 %
    Others 97 282 46 %
    Total 212 830 100 %

    Note / HK Budget / P. 3

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