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Revenue Receipts—Erroneous Estimate In The Times

Volume 92: debated on Monday 1 April 1901

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May I ask the Chancellor of the Exchequer whether his attention has been directed to a statement in The Times of to-day as to the very excessive amount of the receipts this year as compared with his Estimates, and whether the statement is correct.

My attention has been drawn to the statement, but I am sorry to say I must dissipate an agreeable illusion. The fact is, the author of it has included the sum of more than £9,600,000 paid to the Local Taxation Account in the receipts paid to the Exchequer. So far from the receipts paid to the Exchequer showing a surplus of twelve and a half millions, they show a surplus of about £2,800,000 above my Budget Estimate. I am afraid a good deal of it is due to anticipatory payments to Excise and Customs duties.