HC Deb 02 November 1908 vol 195 cc738-9
MR. CHIOZZA MONEY (Paddington, N.)

To ask Mr. Chancellor of the Exchequer whether his attention has been directed to the fact that, while the Revenue Estimates submitted to the House in the Budget of 1907 proved to be much too low, those of the present year have proved to be much too high; whether the attention of the permanent officials concerned has been directed to the miscalculations made upon both these occasions; and whether, seeing that at the time when the Budget was submitted to the House of Commons this year all available evidence indicated that the fall in revenue which has occurred was likely to occur, he can give any assurance that in future years those who prepare the Estimates of revenue will consult the Board of Trade as to the commercial outlook, in order that such incorrect figures may not again be submitted to this House.

(Answered by Mr. Lloyd - George.) Whether the revenue of the current year has been over-estimated in the Budget or not is a question on which it would be premature to pronounce at present. But my hon. friend may rest assured that when Budget forecasts fail, as they sometimes do in one direction or the other, it is not for the want of attention to the indications, so far as they may be available, of the commercial outlook.