HC Deb 12 April 1943 vol 388 cc973-4

The total revenue I expect to receive from this additional taxation amounts to £102,000,000 in the current year and £110,000,000 in a full year. The total revenue for the current year will, therefore, be £2,907,000,000. Of the £5,156,000,000 for which we have to find domestic finance during the year, we shall be providing 56 per cent. from current revenue. That percentage compares with 48 per cent. during the calendar year 1941, and 52 per cent. during the calendar year 1942. Such a result continues to represent, I know, a very great degree of sacrifice by all members of the community, but it is worth making, for it enables us to keep our financial and economic life in that sound and healthy condition which has already, as I believe, been such a powerful aid to the war effort and will help us so much after the war. I therefore commend these proposals to the Committee. I do not doubt that they will be willingly accepted by our people, who have played so great a part in the financial field. They once again represent our determination to see that nothing we can do is left undone to achieve early victory and that we go forward unceasingly and unflinchingly until the issue is decided by the triumph of the right and a free and decent world is assured for all mankind.