HC Deb 29 November 1819 vol 41 cc377-8

On the motion of the Chancellor of the Exchequer, the House resolved itself into a committee to consider of a motion for granting a Supply to his Majesty. The Chancellor of the Exchequer moved a resolution, "that a Supply be granted to his Majesty."

Mr. Grenfell

observed, that he had seen in the public papers that there had been a deficiency in the revenue in the last quarter to the amount of eight millions. The amount was so great that he confessed it staggered him. It, however, required some explanation, and he requested his right hon. friend would have the goodness to give it.

The Chancellor of the Exchequer

said, that the alleged deficiency was not an actual deficiency, unless the sum issued to make good the deficiencies of former periods could be so called. There was an actual surplus. Since the incorporation of the treasuries of Great Britain and Ireland two millions and a half had been borrowed in the Spring from the consolidated fund for the service of Ireland. To this was added six millions for the purpose of making good the deficiencies he had already described. Instead of any deficiency having taken place in the quarter ending the 10th of October last, there was an increase. It was true, however, that the surplus in that of every year was generally considerable; and, comparatively considered, the surplus of the quarter ending on the 10th of last October, was not so great as that of the corresponding quarter of the preceding year, it being only 300,000l. The total amount of the deficiency of that quarter, as compared with the corresponding quarter of the year immediately preceding, was 1,100,000l., although it exceeded the amount of the corresponding quarter of the year 1817. Of that 1,100,000l. of comparative deficiency, 920,000l. was under the head of Customs, which was chiefly attributable to the stagnation of trade, of which so much had been said in the discussions last session in the Bank committee, and in some degree proceeding from the consolidation of the customs in the last session, which occasioned a larger sum to be paid in preceding; quarters by those who were desirous to avoid the increase of duty caused by that consolidation. The comparative deficiency in the excise was nearly 200,000l. He was happy, however, to say, that in the period which had elapsed between the 10th of October, and the meeting of parliament, a very considerable improvement in the revenue had manifested itself.

The resolution was then agreed to.