§ MR. LOUGH (Islington, W.)
I desire to ask the Chancellor of the Exchequer a Question of which I have given him private notice, viz., whether on the basis of existing taxation as shown in Appendix II of his Statement circulated to Members, after providing for the charges for the termination of the war, interest on the new Debt, the South 108 African Constabulary, the restoration of the Sinking Fund and the West Indian grant, the deficit to be provided for is £28,574,000 and whether towards meeting this deficit and without including the proceeds of the new taxation, he has now in hand £4,029,000 last year and £29,270,000, the proceeds of the new Loan making a total of £33,949,000.
§ THE CHANCELLOR OF THE EXCHEQUER (Sir M. HICKS BEACH,) Bristol, W.
No, Sir, I think the inferences drawn by the hon. Member are not correct.