§ I come now to the present year. On the present basis of taxation, I estimate the total revenue at £1,341,650,000. Hon. Members will find full details in the White Paper which will be available to them as soon as I have finished my statement. Meanwhile, I may say that this total comprises a non-tax revenue of £376,650,000— in which is included £320,000,000 of Miscellaneous Revenue, mainly derived from the sale of Vote of Credit Assets; and a tax revenue of £965,000,000, of which Customs and Excise contribute £300,000,000, Income Tax and Super-tax £387,000,000, Death Duties £45,000,000, and Excess Profits Duty £210,000,000. The estimated yield of the Excess Profits Duty represents, in the main, as I have already explained, tax payable in respect of accounting periods already closed or approaching their term. For this reason, even if the tax were now brought to an end, the main part of this sum would still be receivable in the current year. The yield is greatly in excess of any forecast which I should have dared to make a year ago, owing to the continuance of an abnormally high general level of profits.
The only other item on the revenue side of the account to which I need refer is Miscellaneous Revenue. I think this may safely be put at £320,000,000, though it is a form of revenue the receipts from which are very difficult to estimate accurately. Ordinary Miscellaneous Revenue provides £18,000,000, and Special Miscellaneous Revenue £302,000,000. I propose, as I have explained to the House on previous occasions, that this year all Disposal Board receipts shall be paid directly to the Exchequer, and none appropriated in aid of the Munitions Votes. Receipts by the Ministry of Shipping will be similarly treated, as will also certain other receipts from Dominions and Allies due to the Fighting Services. The main items in the Special Revenue of £302,000,000 are Disposal Board Receipts, which may reach £120,000,000, and receipts from the sale of raw materials, which I put at £60,000,000. As I have said, it is very difficult to estimate this class of revenue accurately, but I think 78 £320,000,000 for the whole may be regarded as a safe figure. If that figure is exceeded, there will be so much the more available for the reduction of debt.