§ Mr. MILLSasked the Under-Secretary of State for Foreign Affairs whether he is aware that the state of Egyptian finances reveals a deficit of many millions; what reasons are given by the financial adviser for this deficit; and whether the Legislative Assembly has any control over finance?
Mr. HARMSWORTHIn June, 1921, it was estimated that the financial year would close on the 31st March next with a deficit of about £4,000,000. The reasons for this deficit were fully explained in the note of the Acting Financial Adviser published last May, and were mainly attributable to the fall in the price of cotton. The Legislative Assembly, when in session, approve the Budget.