HC Deb 29 October 1919 vol 120 cc753-4

In those circumstances, and in view of the general review of the situation which I have made, the House will consider afresh the demand which has been advanced for the immediate presentation of a new Budget and the immediate imposition of additional taxation. A Budget is always a disturbing factor in our national life. It has a disturbing effect upon trade and commerce and industry, and two Budgets in a year are not merely disliked by the Chancellor of the Exchequer but really are injurious to the public interest if they can be avoided. I submit to the House, as the considered opinion of His Majesty's Government, that there is no such financial crisis or financial emergency as requires us to interpose that un- rest and uncertainty which the introduction of new taxation at this stage would cause, and we do not propose to do it. But, as I have said, the House may wish to incur charges for which we have made no provision, and my object is that they should not do so without knowing what they are doing. And I wish to say that, if they will read these Papers, and will be good enough to mark the commentary that I have made upon them, it cannot happen. They will know what they are doing, and they will know the consequences which will follow.