HC Deb 07 May 1908 vol 188 cc452-3

I pass now, and I shall deal with it very briefly, to the other side of the account—the expenditure, which is set out in Table I. The Budget of 1907 provided for a total expenditure of £152,502,000. There were other grants voted on Supplementary Estimates amounting to a total of £942,000. The principal items were £200,000 for the Unemployed Act, £100,000 for the Small Holdings Act, and £260,000 as the first instalment of the additional charge imposed upon the Post Office in order to give effect to the recommendations of the Committee of this House on Post Office servants. There was also an exceptional issue under the head of the Consolidated Fund Services in connection with the Exchequer liability to the Supreme Court fund. On the other hand, as hon. Gentlemen will see if they look at the headings of Supply Services, the Exchequer issues to the Army and Navy and the Civil Service were reduced to the extent of £1,869,000 by savings on expenditure on the Army £645,000, on the Navy £278,000, and on the Civil Service, mainly the Board of Education, no less than £809,000. As a result the issues from the Exchequer amounted to a total of £151,812,000, against an estimate of £152,502,000 showing a net saving of £690,000 on the expenditure provided for by the Budget. It is in that way that we have a realised surplus for the year of £4,726,000, which in due course, subject to a deduction which I shall hereafter explain, becomes the old Sinking Fund of last year, and will be applied during the current year to the reduction of the National Debt. I will ask the Committee to look for a moment at the figures shown in Table III., which give the Exchequer balance at the beginning and the end of the year. The balance at the beginning of the year was £6,932,000, and at the end of the year it was £8,919,000.