Mr. Chamberlain on Monday introduced the Budget, on behalf of
his successor, Sir Robert Home, who is busy with the miners' strike. Despite the sudden and severe depression of trade last autumn., his estimates had, he said, proved nearly right. The expenditure of £1,195,428,000 was E11,328 000 above his estimate ; the revenue of £1,425,985,000 was £7,685,000 in excess of his expectations. His realized surplus of £230,557,000 was only £3,641,000 lees than he had hoped to /waive. Customs and Excise yielded £15,Q00,000 less than the •estimate, partly because of the miners' strike. The revenue from spirits fell short by £15,500,000, from tobacco by £7,000,000, from wines by £3,000,000, but beer yielded £11,000,000 more than the estimate. Income Tax and Super Tax produced £9,000,000 more than the vast total expected. The Excess Profits Duty, now happily ending, yielded £4,000,000 more, despite the large repayments that had to be made. The Corporations Profits Tax proved disappointing and yielded only £654,000 out of the expected £3,000,000.
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