MR. GORSTasked Mr. Chancellor of the Exchequer, Whether any provision is made in the Budget for the deficit of £1,050,000, caused by the excess of expenditure over revenue in 1884–5; whether this amount has been added to the National Debt in the shape of Exchequer Bills or Bonds; and, whether any provision has been, or will be, made to pay off the floating debt thus created?
§ MR. HIBBERT(who replied) said: My right hon. Friend, in his Financial Statement, said that the deficit of 1884–5 had been taken out of the Exchequer balances, and in giving the amount of debt reduced in that year he subtracted the reduction in the balances. He also said that it was proposed to take power to issue for the amount of this deficit Unfunded Debt if it should be found necessary. The whole operation will be explained in the Treasury Minute which my right hon. Friend promised to lay on the Table.
§ SIR STAFFORD NORTHCOTEasked when the Minute might be expected?
§ MR. HIBBERTsaid, that it was being prepared, and would very shortly be laid on the Table.