16 MARCH 1929, Page 32

LARGE SURPLUS WAS EXPECTED.

It may be recalted..that 311r. Churchill's Budget of last year took...into consideration the prospects of large amounts being- required the following year—that is, for the year shortly to commence—in connexion with his derating scheme, and, therefore, he carried forward his-surplus of 1927, 'and hoped that with that and an estimated surplus for 1928-9 of-114,502,090, he would have a realized surplua.of 118,741,000, which was specially marked as available for contingencies in the 1928 Budget, and more especially for a Suspensory 'Fund for rating relief schemes. _