§ 58. Mr. Gammansasked the Chancellor of the Exchequer to what he attributes the fall in ordinary Revenue for the first quarter of the year as compared with the same period in 1948; and to what extent he anticipates a similar fall in the remaining quarters of the year.
§ Sir S. CrippsThe fall in Revenue during the June quarter this year compared with the same period last year is mainly in Income Tax and Purchase Tax. In both cases the fall is due to factors which were taken into account when the Estimates were made on which the Budget was framed. It is too early in the year to forecast the outturn of the year but receipts in the June quarter are according to expectations.