HC Deb 22 April 1918 vol 105 c691

The essential figures of last year's position are in the Blue Paper which is now in the hands of Members. From that statement it will be seen that the total expenditure has exceeded the Estimate by £403,000,000, while the Votes of Credit have exceeded the Estimate by £427,000,000. The difference between the two figures is caused almost entirely by saving on the Debt charge. That was owing in the main to the fact that Treasury Bills were sold at a lower rate than was anticipated. As regards the excess on the Estimate for the Votes of Credit, I have so often explained, or endeavoured to explain, this to the House that I shall not occupy time in regard to it now beyond pointing out that, of the total excess, £200,000,000 represents dead-weight charge, and the remainder is expenditure which ought to be recoverable. As regards the dead-weight charge of this year, £155,000,000 is represented by the Army Estimates. As regards the other item, £139,000,000 is represented in the main by foodstuffs and other commodities which will conic back when the accounts are settled. The balance consists of an excess in the advances to the Allies of nearly £89,000,000.