24 APRIL 1920, Page 2

Mr. Chamberlain concluded his speech by saying that his new

taxes would yield an additional £76,650,000 this year, and £189,000;000, apart, from the Post Office, in a full year. His total revenue this year would be £1,418,300,000. His assets, in loans to the Dominions, loans to Allies—estimated at half their nominal value—and the proceeds of sales of stores and outstanding arrears of Excess Profits Duty, would amount to £1,724,000,000, to say nothing of indemnities. He would have £234,000,000 available out of revenue for the redemption of Debt, and would be able to apply £70,000,000 of that sum towards the Floating Debt. Next year there should be £300,000,000 for the reduction of. the Debt,, and: in the first normal year there should be not less than £180,000,000 for that purpose. It had been said that two such Budgets would destroy the Empire. He might retort that twenty such Budgets would redeem the whole of our Debt.