§ The figures I am going to give the Committee are based on the assumption that the additional duties imposed last year upon beer and spirits expire, as by law they do, in July next. This is the method of estimating a temporary duty, which was used by my right hon. friend the Member for Midlothian (Mr. Gladstone) in his great Budget of 1860. Subject to that assumption, we estimate Customs at £20,240,000, as against 312 the Exchequer receipts of 1894–5, £20,115,000, an increase of £125,000.
§ MR. GOSCHENWill the right hon. Gentleman state tea and tobacco separately?
§ THE CHANCELLOR OF THE EXCHEQUERIt is not usual, on occasions like this. We take Excise at £25,450,000, as against Exchequer receipts in 1894–5, £26,050,000, a decrease of £600,000. This, as I have said, is on the assumption that the additional 6d. on beer and spirits expires on July 1. We take stamps at £15,800,000, as against Exchequer receipts in 1894–95, £14,440,000, an increase of £1,360,000.
§ MR. T. GIBSON BOWLES (Lynn Regis)Will the right hon. Gentleman separate the death duties?
§ THE CHANCELLOR OF THE EXCHEQUERThe estimate of the income tax is £15,530,000. This is £70,000 less than the Exchequer receipts of last year, and is identical with the estimate for 1894–5. It is true that arrears will be at the higher rate, 8d., as compared with 7d. last year. But this will be counterbalanced by heavier repayments, resulting from the increased relief given to small incomes. The land tax and house duty are taken at £2,470,000, as against £2,450,000, the amount of the Exchequer receipts in 1894–5. The total tax revenue will thus stand at £79,490,000, as against Exchequer receipts in 1894–5, £78,655,000. The Post Office is estimated at £10,900,000; the Telegraph service at £2,620,000; Crown lands, £415,000; interest on Suez Canal shares and Sardinian Loan, £687,000, an increase on last year of £274,000; and miscellaneous revenue, £1,550,000, reduced by the amount received out of the Naval Defence Fund. This makes the total non-tax revenue £16,172,000. Adding this to the total tax revenue, £79,490,000, makes a total revenue of £95,662,000. Comparing this with £95,981,000, the estimated expenditure of 1895–6, we arrive at an estimated deficit of £319,000.