29 JUNE 1912, Page 19

On Monday evening the Report stage of the Nudget resolu-

tions was taken in the House of Commons, and the Chancellor of the Exchequer made a statement as to the destination of the realized surplus of six and a half millions. The passage of the new German Navy Law, a contingency which he had mentioned in his Budget speech, necessitated supplementary Naval Estimates, and for this purpose one million of the surplus would be set aside. Of the remainder he proposed to advance half a million for the purpose of the development of the East Africa Protectorate and Uganda. The rest of the surplus, namely £5,000,000, would be devoted to the reduction of Debt. Mr. Lloyd George enlarged upon the great total reduction which had been effected by the present Government. It amounted to over seventy-eight millions in seven years—by far the largest reduction made by any Government In spite of this, Mr. Lloyd George complained, the Government were constantly blamed in the Press for inadequate reduction of Debt, to which the fall in Consols was ascribed.