§ 78. Mr. LYONSasked the Secretary of State for Dominion Affairs whether he can give a further report on the financial position of Newfoundland, in view of the recent budget statement there.
The UNDER-SECRETARY of STATE for DOMINION AFFAIRS (Marquess of Hartington)The approved estimates for 1206 the Newfoundland financial year ending 30th June, 1936, provided for a deficit of just under $2,000,000, which it was later expected would be substantially increased owing to the temporary set-back arising from the exceptionally poor fishing season of 1935. I am glad to say, however, that revenue has improved in recent months and at the close of the financial year on the 30th June had not only exceeded the estimate, but at nearly $10,000,000 had reached the highest point since 1929–30. Expenditure for the year also showed an increase over the estimate, partly as a result of increased expenditure on able-bodied relief during the winter months and partly as a result of increased capital expenditure on communications, and the year closed with a deficit of a little over $2,000,000. The approved estimates for the year 1936–37 provide for a deficit of approximately the same proportion, but it is hoped that if the recent improvement in revenue is maintained it may be possible for the deficit to be substantially reduced. The figures in this answer exclude, of course, the grant in aid from the United Kingdom Exchequer.
§ Mr. LYONSCan the Noble Lord assure the House that the facts show that there has been a definite improvement in the condition of Newfoundland since the advent of the present administration?