§ I now come to the Land Value Duties. The really productive duty, as we anticipated, will be the Increment Value Duty, but that cannot fructify until the valuation is more complete. The valuation has been held back by a variety of circumstances, and it will take some time, as we anticipated, to complete it. Even then it must take a few years for the increased value to grow and to ripen, but it is welling up. It has not yet reached beyond the high rim of deductions to be provided, but this year we hope to get about £50,000 from the Increment Value Duty. The same observation applies to the Undeveloped Land Duty. This year we hope to be able to complete the valuation of most of the undeveloped urban sites and to collect part of the Undeveloped Land Duty in respect of them. That will produce £200,000 this year. We expect the Reversion Duty will yield £50,000, and the Mineral Rights Duty £400,000, of which £80,000 will be arrears. We expect the total Land Value Duties will amount to £700,000.
§ Mr. AUSTEN CHAMBERLAINmade a remark which was inaudible.
§ Mr. LLOYD GEORGEThat is the Inhabited House Duty and Land Taxes together–22,700,000.
§ Mr. AUSTEN CHAMBERLAINThey produced £4,000,000 last year.
§ Mr. LLOYD GEORGEYes, but we had not collected the Inhabited House Duty last year. I think that is the explanation. There were arrears of Inhabited House Duty last year. We had not collected them at all. The Estimate for the Post Office this year is £25,740,000, an increase of £1,390,000 over last year. My right hon. Friend reminds me that is an increase due very largely to the revenue we shall receive from the National Telephone business the last quarter of the year. The Estimate for Crown Lands is £500,000. We now come to the Suez Canal shares and other miscellaneous items. Last year we received £1,235,000. This year we expect to receive £1,226,000. That indicates a reduction in the amount to be received under this head. We expect a small increase from the Suez Canal shares, and the decrease is attributable entirely to the repayment of the loan to the Viceroy of Wu Chang which comes to an end. The two largest items in the miscellaneous 1866 collection are the Fee and Patent Stamps and the Mint; and altogether they are expected to produce £2,200,000. That is £404,000 less than the Exchequer receipts of last year. The falling off is mainly in the Mint receipts. The estimated total of the non-tax revenue is £29,666,000; the estimated total of the tax revenue is £152,050,000, making a total of £181,716,000 revenue. The expenditure has already been stated at £181,284,000. That leaves a surplus of £432,000, and therefore it will not be necessary to impose any fresh taxation.