The Revenue Returns for the first nine months of the
financial year showed a revenue of £6'76,831,318. This was less by £211,072,410 than the revenue for the corresponding period of 1920-21. The Chancellor estimated for a decline of £200,000,000 on the whole year ; it remains to be seen whether the present quarter will make amends for the earlier period. The two main classes of revenue that decreased were Excess Profits Duty, the net proceeds of which were less by £126,640,000, and the sales of War stores, which yielded £104,518,955 less than last year. The revenue from stamps fell by £7,420,000, owing to the depression in trade, and the Customs revenue by £2,848,000. On the other Land, income-tax brought in £17,818,000 more, and the new Corporation tax produced £10,290,000. Excise showed only w trifling increase of £400,000, because the duties are at a maximum.
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