§ Mr. WISEasked the Chancellor of the Exchequer which of our Dominion, Empire of India, and important Colonies and Dependencies balance their Budgets?
1309W
§ Mr. CHURCHILLI am not in a position to supply anything like an adequate answer so far as the self-governing Dominions of India are concerned. The financial year varies in different Colonies and Protectorates, but generally I may say that the more important Colonies and Protectorates may be said to have balanced their Budgets for the ensuing year in so far as deficits will be met from the accumulated reserves of the Colonies concerned, although in several cases expenditure for the current or coming financial year is expected to exceed revenue. Generally speaking there has been an excess of revenue over expenditure for the last financial year, for which I have completed figures.