HC Deb 19 April 1920 vol 128 c72

The only other item of last year's revenue with which I need trouble the Committee is the Miscellaneous Revenue. I think they will desire some explanation in regard to that item, which has exceeded the original estimate by £71,000,000 and the October estimate by £130,000,000. In the return issued on 31st March last I divided this revenue into Ordinary Miscellaneous Revenue and Special Miscellaneous Revenue, and I propose to follow that division in future. The Ordinary Miscellaneous Revenue, derived from such things as the Mint receipts, Fee stamps, and surplus interest due to the Exchequer under the Treasury Minute of May, 1915, from the Currency Note Investment Reserve Account, exceeded the original estimate by £9,600,000. Under the head of Special Miscellaneous Revenue the war contributions of India and the Colonies showed an increase of £10,000,000, due to a further payment of £9,000,000 by India on account of the liability voluntarily assumed by her for £100,000,000 of the 5 per cent. War Loan, and to war contributions from the Straits Settlement, Hong Kong and Guernsey, and from the Bank of England, which, as the Committee knows, very handsomely surrendered all its profits over the pre-War rate. Vote of Credit realisations showed an increase of £51,300,000 on the original estimate, mainly owing to unexpectedly large receipts from the Ministry of Shipping and the Ministry of Munitions.