§ Sir G. COLLINSasked the Chancellor of the Exchequer the total revenue and total expenditure from 5th April to 30th June, 1921, and the total revenue and total expenditure for the corresponding period of 1920, excluding debt redemption?
§ Sir R. HORNEMy hon. Friend will find these figures in the Quarterly Return of Exchequer Issues and Receipts published last night. I may, perhaps, warn my hon. Friend that conclusions drawn from the revenue and expenditure figures for the first quarter of the year are apt to be very misleading. The considerable drop which will appear in receipts from Excess Profits Duty and Miscellaneous Revenue is in accordance with anticipations.
§ Sir G. COLLINSasked the Chancellor of the Exchequer what is the estimated revenue to be received from 5th April to 30th June, 1921?
2494W
§ Sir R. HORNEThe revenue quarters run from the 1st of the month, not from the 5th; but in any case no attempt is made to prepare exact estimates of revenue by quarters as distinct from the Estimates for the year contained in the Financial Statement. I may add that the actual revenue receipts for the first quarter of the year will not be much below what might have been anticipated had an attempt been made to frame such an estimate.