(Consolidated Operating Surplus/Deficit : The difference between Operating revenue and Operating expenditure)
Year 89-90 |
Year 90-91 |
Year 91-92 |
Year 92-93 |
Year 93-94 |
Year 94-95 |
Year 95-96 |
Year 96-97 |
Year 97-98 |
Year 98-99 |
Year 99-00 |
|---|---|---|---|---|---|---|---|---|---|---|
22.3 |
19.9 |
28.3 |
34.2 |
42.8 |
40.5 |
29.0 |
35.0 |
43.8 |
-0.6 |
-0.7 |
Year 00-01 |
Year 01-02 |
Year 02-03 |
Year 03-04 |
|---|---|---|---|
-25.0 |
-15.3 |
-6.2 |
2.4 |
* Figures based on Medium Range Forecast published in March 2000
Illustration: There is a Consolidated Operating Deficit from 1998-99 to 2002-03, meaning that our recurrent expenditure has exceeded our recurrent revenue. This is a phenomenon not seen in the past. A Task Force headed by the Secretary for the Treasury has been set up to review our public finances to determine whether the projected successive operating deficits up to 2002-03 are cyclical or structural in nature.
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