HC Deb 15 April 1947 vol 436 cc36-107

3.30 p.m.

The Chancellor of the Exchequer (Mr. Dalton)

The Budget deficit in 1944–45, the last full year of war, was £2,825 million, and in 1945–46, the year when peace broke out, it was £2,200 million. Twelve months ago, I forecast a sharp fall in the deficit to £726 million for 1946–47, the first year of peace; and this, I said last year, would be a pretty quick recoil towards a balanced Budget. In fact, the recoil has been even quicker. The deficit last year was only £569 million, £157 million less than I had anticipated. This is not, I think, a bad starting point for today's excursion.

    cc36-7
  1. REVIEW OF PAST YEAR 453 words
    2. cc37-8
  2. MISCELLANEOUS REVENUE, 1946–47 144 words
    3. c38
  3. EXPENDITURE 1946–47 90 words
    4. cc38-9
  4. SOCIAL SERVICES 317 words
    5. c39
  5. OTHER SUPPLEMENTARY ESTIMATES 160 words
    6. cc39-40
  6. NATIONAL LAND FUND 524 words
    7. cc40-1
  7. PROSPECTS FOR 1947–48 350 words
    8. cc41-2
  8. EDUCATION 270 words
    9. cc42-3
  9. OTHER SERVICES 531 words
    10. cc43-4
  10. COST-OF-LIVING SUBSIDIES 434 words
    11. cc45-7
  11. NEW COST-OF-LIVING INDEX 1,009 words
    12. c47
  12. CONSOLIDATED FUND SERVICES 124 words
    13. cc47-9
  13. REVENUE FOR 1947–48 557 words
    14. c49
  14. CUSTOMS AND EXCISE. 70 words
    15. cc49-50
  15. INLAND REVENUE. 474 words
    16. c50
  16. OTHER REVENUES 127 words
    17. cc50-1
  17. MISCELLANEOUS RECEIPTS 419 words
    18. cc52-3
  18. PROSPECTIVE SURPLUS 483 words
    19. cc53-4
  19. UNCERTAIN FACTORS NEXT YEAR 532 words
    20. cc54-5
  20. No INFLATIONARY BREAK-THROUGH 362 words
    21. cc55-7
  21. NATIONAL SAVINGS 833 words
    22. cc57-8
  22. WAR DAMAGE PAYMENTS 320 words
    23. cc58-9
  23. GOVERNMENT BORROWING 612 words
    24. cc60-1
  24. THE GOVERNMENT'S CREDIT 725 words
    25. cc61-2
  25. CHEAP MONEY POLICY 464 words
    26. cc62-4
  26. LOCAL AUTHORITIES' BORROWING 542 words
    27. cc64-6
  27. CHEAP MONEY 967 words
    28. cc66-70
  28. OVERSEAS DEFICIT 1,483 words
    29. c70
  29. REDUCTIONS IN TAXATION> 49 words
    30. cc70-1
  30. ARTIFICIAL SILK 265 words
    31. c71
  31. HEAVY HYDROCARBON OILS 221 words
    32. cc71-3
  32. PURCHASE TAX REDUCTIONS 667 words
    33. c73
  33. INCOME TAX 175 words
    34. cc73-4
  34. EARNED INCOME RELIEF 112 words
    35. cc74-5
  35. CHILD ALLOWANCE 375 words
    36. c75
  36. DEPENDENT RELATIVE ALLOWANCE 213 words
    37. cc75-6
  37. P.A. Y. E. TAX TABLES 293 words
    38. cc76-7
  38. POST-WAR CREDITS 364 words
    39. c77
  39. COTTON AMALGAMATIONS 118 words
    40. cc77-8
  40. PROBATE FEES 213 words
    41. c78
  41. TOTAL COST OF TAX REDUCTIONS 73 words
    42. cc78-9
  42. INCREASES IN TAXATION 398 words
    43. cc79-80
  43. MOTOR TAXATION 335 words
    44. cc80-1
  44. DEATH DUTIES 487 words
    45. cc81-2
  45. STAMP DUTIES 406 words
    46. cc82-3
  46. BONUS ISSUES 671 words
    47. cc83-5
  47. PROFITS TAX 764 words
    48. cc85-6
  48. PURCHASE TAX (GAS AND ELECTRICAL APPLIANCES) 502 words
    49. cc87-9
  49. TOBACCO 928 words
    50. cc89-90
  50. FINAL RESULT OF TAX CHANGES 413 words
    51. cc90-1
  51. CUSTOMS AND EXCISE 666 words
    52. cc91-2
  52. 3. Tobacco (Excise) 207 words
    53. c92
  53. 4. Tobacco (Drawback) 269 words
    54. cc93-4
  54. 5. Artificial Silk (Customs and Excise) 503 words
    55. c94
  55. PURCHASE TAX 172 words
    56. c94
  56. TABLE 161 words
  57. TABLE
      58. c95
    1. PART I 30 words
      2. c95
    2. PART II 114 words
      3. c95
    3. PART III 30 words
    cc95-7
  58. INCOME TAX 1,023 words
    59. c98
  59. PROFITS TAX AND EXCESS PROFITS TAX 130 words
    60. c98
  60. LEGACY AND SUCCESSION DUTIES 122 words
    61. cc98-100
  61. STAMPS 713 words
    62. cc100-7
  62. MISCELLANEOUS 3,095 words