84. Colonel WILLIAMSasked the Post master-General on what figures he bases his assertion that the loss on telegraphs is about £300,000, since the Financial Statement presented in connection with the Budget for 1914–15 appears to give a deficiency of £845,700; and whether to this latter figure there ought to be added £271,500 for interest on capital, so making the deficiency £1,117,000?
§ Mr. HOBHOUSEThe loss on the telegraph service of about £350,000, which I mentioned in the Debate on the Post Office Vote, did not, as I explained in the course of my speech, include any allowance for interest on the purchase-money, or for the liability for pensions, or for amortisation of the original purchase-money. It represented the deficiency as shown in the recently published accounts on commercial lines for the year 1912–13—ride House of Commons Paper 94—after deducting the receipts for that year from the expenses of administration, operating, and maintenance, including the amounts expended by other Government Departments. The figures in the Budget Financial Statement relate to voted expenditure for 1914–15; and therefore are not comparable—without modification—with the commercial account figures. But, taking the Budget Financial Statement, there is a deficiency of £845,729, which, added to £271,691 for interest on the original capital expenditure, will amount to about £1,117,000, as stated by the hon. and gallant Member.
§ Mr. HOBHOUSE"Commercial accounts," I said.
§ Mr. HOBHOUSEThat was a slip of the tongue. It should be commercial accounts. I present accounts to the House of Commons in a White Paper differentiating the expenditure between the telephones and telegraphs, and showing the appropriations to the telephone system.