§ 59. Mr. BETTERTON
asked the Prime Minister whether, in view of the serious situation of the national finances, as disclosed by the Chancellor of the Exchequer, and the urgent need of economy in all Departments of administration, he will, in order to allay public anxiety, lay upon the Table of the House before the Recess definite proposals for the reduction of the national expenditure?
§ Mr. BONAR LAW
It is impossible to say more on this subject than has been said by the Prime Minister and the Chan-cellar of the Exchequer.
§ Sir D. MACLEAN
In view of the fact that my right hon. Friend promised to lay the Army Estimates anew after the Recess will he also, in view of the declared policy of the Government with regard to the reduction of expenditure, lay the Civil Service Estimates afresh?
§ 62. Mr. HOUSTON
asked the Prime Minister whether he is aware that our average national expenditure since the beginning of April has been £4,420,000 per day; and can he state what our average national revenue has been per day for the same period?
§ Mr. BALDWIN
The total revenue paid into the Exchequer in the period ending 876 26th July was £268,095,165, which would represent a daily average of £2,291,000. In view of the fact that a much larger proportion of the annual revenue comes in in the last quarter of the financial year than in the earlier quarters, any direct comparison of daily averages of expenditure and revenue over a part of the year only is bound to be misleading.
§ Mr. HOUSTON
May I ask the Leader of the House whether, notwithstanding the explanations of my right hon. Friend of the enormous disparity between expenditure and income, and his promise that immediate steps will be taken to make the most drastic reductions in every Government Department, we are rapidly heading for ruin?
§ Mr. BONAR LAW
I am not quite sure about the rapidity with which we are heading for ruin, but quite as fully as my hon. Friend the Government realise the seriousness of the position, and promises have already been made both by the Prime Minister and the Chancellor of the Exchequer that expenditure will be radically cut down.