The Chancellor of the Exchequer pointed out that the increase
in our expenditure was not so great as the increase in other countries. The service of the Debt and the war pensions cost in all £500,000,000, and this sum could not be reduced. In asking for a reduction of £175,000,000, he had foreseen the decline in revenue following a year of bad trade ; he did not think that the present expenditure was wasteful. He defended the appointment of the Geddes Committee, to advise the Treasury ; he himself would not have had the time to undertake such an elaborate inquiry. The Cabinet had not come to a decision about the reductions in the Education and the Navy Estimates. The War Office was reducing its expenditure ; the Pensions Ministry had effected larger savings than were asked for. On the estimated expenditure for 1921-22, Sir Robert Home said, he would save £40,000,000. How the revenue would compare with the estimate, no one could tell. The amendment was rejected by 241 votes to 92.
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