§ Considered in Committee.
§ (In the Committee.)
§ [Mr. J. W. LOWTHER in the Chair.]
§ *THE CHANCELLOR OF THE EXCHEQUER (Sir MICHAEL HICKS BEACH,) Bristol, W.who, on rising, was received with cheers, said: Mr. Lowther, there are two very different occasions on which the country awaits with especial interest the statement of the Budget—the first when it is known that there will be a surplus and nobody has the least idea to what purposes the surplus will be devoted, the second when it is known that there will be a deficit and every kind of taxpayer is fearing that his own interests may be affected by increased taxation. I do not know whether disappointed expectants of relief or disgusted bearers of fresh burdens are the most dangerous critics of the Chancellor of the Exchequer, but on this occasion I hope to be reasonably free from the attacks of both. I fear that I shall have nothing that is very novel to state to the Committee; it is known that there will be a surplus, and any one who has followed the statements of the intentions of Her Majesty's Government must have a pretty good idea of the purposes to which, in our opinion, the bulk of that surplus should be devoted. ["Hear, hear!"] Those purposes may, no doubt, in the future be matter of keen controversy; to-night I shall not dwell upon them.