HC Deb 24 March 1904 vol 132 cc618-9
MR. McCRAE

I beg to ask Mr. Chancellor of the Exchequer if he can state whether the Exchequer Balances as at 1st April, 1902, included a sum of £4,029,000, the unexpended balance of the £60,000,000 Consol Loan of 1901 issued to meet war expenditure, and whether it is now proposed to apply a sum of £4,000,000 out of the present balances in reduction of war indebtedness.

MR. AUSTEN CHAMBERLAIN

The hon. Member has only taken one year. If he had taken the whole war period, the amount borrowed in excess would have been less than he states. I do not propose to anticipate any information which seems properly to belong to my Budget statement.

MR. McCRAE

Is it not the case that in 1902 there was £4,000,000 of borrowed money in the Exchequer which is still there?

MR. AUSTEN CHAMBERLAIN

I have answered the Question, and that answer gives a more accurate view of the facts than is put forward in the Question. You must await the Budget speech for further information.