HC Deb 12 April 1943 vol 388 cc966-7

With these figures for 1942 fresh in our minds, I turn to the prospects for 1943. On the expenditure side, I must this year provide £375,000,000 for the fixed Debt charge, the increase of £64,000,000 over the cost of interest and management during 1942 being due, of course, to our continued war borrowings. As in previous years, I shall ask for power to borrow any additional sum necessary to cover the contractual sinking funds. Other Consolidated Fund services are put at the same figure, £17,000,000, as in 1942. The total of Civil Votes is £464,000,000. It shows an increase of £20,000,000 on last year's Budget estimate and an increase of £8,000,000 on the actual expenditure in 1942. The increase over last year's Budget estimate is due, mainly, to an increase of £13,000,000 for supplementary pensions and to smaller increases for education, old age pensions and labour and man-power services, offset by a saving of £2,000,000 on assistance allowances.

As regards Vote of Credit expenditure in 1943, I have already referred to the generous assistance which the Canadian Government are giving us during the year. That assistance enables me, of course, to make an appreciable reduction in the provision which I should otherwise have to make for Vote of Credit expenditure, and on that basis I put the total at £4,900,000,000. As in previous years, that figure makes only nominal provision for expenditure on war damage, and receipts under the War Damage Act will also again be excluded from my revenue figures.