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Mr. Churchill then proCeeded to present the accounts in a

new and simplified form which omits the so-called " self-balancing " items for the Post Office, the Road Fund and the Sinking Fund expenditure. Estimates framed with the same simplification showed that the Government would spend in the coming year £12,000,000 less than was spent by the careful Mr. Snowden in 1924-5. And this saving would be made in spite of the fact that £24,000,000 more would be spent on social services. He estimated his total revenue for 1928. at £761,083,000, and his expenditure at /746,581,000. He would thus have a surplus of £14,502,000, to which he added last -year's surplus of 14,239,006... But why should he raid last year's surplus ? gave no adequate excuse.

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