§ Mr. Barnesasked the Chancellor of the Exchequer whether he will submit a statement indicating the extent to which his revenue and expenditure statement on the 25th April 1939 has been affected on the revenue side by modifications and additions and on the expenditure side by additional expenditure; and how much he estimates to receive from taxation and how much to be met out of loan?
§ Sir J. SimonIt is expected that the estimates of revenue given in the Financial Statement for 1939–40 will be affected as follows by changes made during the passage of the Finance Bill through Parliament: —
— Budget Estimate. Revised Estimate. Reduction. £ £ £ Customs 232,560,000 232,300,000 260,000 Excise 116,460,000 116,430,000 30,000 It is not possible to frame any estimate of the yield of the Armament Profits Duty during the current year.
On the expenditure side, the sums provided in the original estimate for the Royal Ordnance factories will not now be required as provision was made for them in the estimates for the Ministry of Supply on the transfer of the factories to that Department. Allowing for this, the supplementary estimates presented to date require an increase in the sum to be met out of revenue of £33,517,365 (covered to the extent of £25 millions by the special provision for supplementaries in the Budget Statement), and an increase in the sum to be borrowed under the Defence Loans Act of 159,929,900.