§ I will now give the Committee my estimates of Revenue on the basis of existing taxation. Taking first the Beer Duty, I cannot expect that the downward trend that has been such a marked feature of recent years will cease to operate, and I must therefore allow for a further fall. I have put down beer on the existing basis at £68,000,000, against £74,000,000 which I received last year. I expect a further drop in spirits at £33,000,000, and I must also take account of a substantial decline which I anticipate will take place in the Liquor Licence revenue, owing to the drop in the valuations on which the Licence Duties depend, arising out of the diminishing consumption. I expect a small rise in the yield from sugar of £370,000, but that is only because the sugar revenue last year was diminished by reason of fore-stalments which had taken place in the year before. As a matter of fact, I had to reduce my estimates of revenue both from sugar and from tobacco on account of the increasing cost of the respective Imperial Preferences which diminish my revenue but at the same time are fulfilling the purpose for which they were given, namely, increasing Empire trade in these products.
§ When I come to the Import Duties, I no longer have to estimate separately for abnormal imports and horticultural products, because those are now merged in the General Tariff. I am afraid, however, I must budget for a full year's yield of the Special Duties on imports from the Irish Free State, because there is nothing to give me encouragement to look for a speedy termination of the unfortunate dispute which is responsible for their origin. I estimate the yield at £3,500,000. From the General Tariff, which this year will include a full year's revenue from the Ottawa duties, instead of only a few months as we had last year, I anticipate I will receive £24,500,000, and that, 43 together with other items which hon. Members will find in the White Paper, brings up the total revenue from Customs and Excise to £281,000,000. That is less than last year's receipts by a little over £7,000,000.