§ So much for 1932. Now I come to 1933. I. must begin, as I did last year, with a word or two about War Debts and Reparations. In this year, 1933–4, we should under the Agreements with the United States Government of 18th June, 1923, and 4th June, 1932, be liable to make payments amounting to $193,500,000, equivalent at the rate of exchange which was current on Saturday last to £51,000,000 sterling. Against this we should receive in Reparations £32,500,000, in Allied War Debts £19,500,000, in Dominion War Debts, Relief Debts, etc., £12,500,000, making a total of £64,500,000. It must be obvious that none of these figures, whether representing assets or liabilities can be said yet to be in a 40 fixed or final form. Therefore, I propose this year to adopt the same procedure as I did last year and make no provision either for payments to America or for receipts from other countries to ourselves.
§ I have already spoken of the savings which we have made in the interest on the Debt. Coming to Consolidated Fund Services, the figure estimated as required for interest and management this year is only £224,000,000. Northern Ireland Services are put at £6,750,000, and Miscellaneous Services at £3,550,000. The Sinking Fund I will deal with later. Leaving that aside, the total for the Consolidated Fund Services comes to £234,300,000.
§ Then I turn to the Supply Services, the figures of which are already before the Committee. I have to provide for an increase of £4,500,000 for the Defence Services as compared with last year. Last year very drastic cuts were made, and it was always recognised that those cuts could not be maintained without seriously impairing the efficiency of the Defensive Forces of the Crown. But, even so, the provision made for defence this year is £1,500,000 less than we made in 1930, and it is nearly £4,000,000 less than in 1929. The Civil Estimates total £319,271,000, and the Committee is aware that those figures do not include a full year's provision for unemployment, and, therefore, they are not comparable as they stand with the figures for last year, but, excluding the Ministry of Labour and the Unemployment benefit, they show a reduction on the final Estimates for 1932, including Supplementaries, of £3,678,000. The published Estimate for the Ministry of Labour is based on the fact that the statutory authority for transitional payments expires on 30th June. It has already been announced that legislation will subsequently be introduced to extend the period and, of course, a Supplementary Estimate will in due course have to be presented. Meantime, I estimate that to complete the provision for the full year we shall require another £22,500,000. The self-balancing items call for no particular comment. The Post Office stands at £59,439,000 and the Road Fund at £23,000,000.
41| Omitting the self-balancing items but including the £22,500,000 required for the Ministry of Labour, the total Supply Services come to | £463,186,000. |
| Adding to that the Consolidated Fund Services at | £234,300,000, |
| we obtain a grand total of ordinary expenditure, apart from Sinking Fund, of | £697,486,000. |