GROWTH IN EXPENDITURE.
But while this is true, and while it is impossible .yet to dogmatize with regard to the position to be disclosed by Mr. Winston Churchill at the 31st of March next, it would be well, I think, for the taxpayers to be prepared for a fairly substantial Deficit. The Chancellor of the Exchequer. estimated for an increase in the Revenue for the yearof nearly £2,000,000, but for the first nine months there is a decline of nearly 41 millions, and at present it scarcely (looks,,as. if there WOtild he- .a: recovery in this respect _before the end of March. On _the other hand, whereas an increase of Expenditure was originally anticipated- of £4;000,00e, there is _ already an ,increase of.over £86,000,000,, the advance.being largely connected with the coal subsidy; and in - that particular form of -Expenditure there -seeing to be little- likelihood of a `redbetiOn ,WhateVer may be 'accomplished by other ways. - . • .
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