§ Accordingly the ultimate balance sheet for 1922–23 on the basis of my proposals will now be:
| Revenue | … | £910,775,000 |
| Expenditure | … | £910,069,000 |
| Leaving a balance of | … | £706,000 |
§ In considering this balance, I beg the Committee to remember that I have already provided£25,000,000 on the expenditure side for contingencies.
§ This, then, is the Budget which I present to the Committee for acceptance, and I claim for it this merit, that in a very trying, anxious and critical time for the commerce and industry of this country, it provides within the limits of legitimate and prudent finance as much relief from the burden of taxation as is possible, and in a form in which it is thought will be most efficacious. It is in the belief that it will do something to create new hope and fresh enterprise throughout the vast organisation by which the nation's business is done, and upon which the prosperity of our finances depends, that I venture to commend it to the Committee.