1,690 MILLIONS DEFICIT
AFTER HUGE REVENUE OF ■.C 859,020,825. In the financial year recently ended tho revenue of the United Kingdom roached the unprecedented total of ,£889,020,825, being a net increase of .£181,780,2Gu on-191?-18. The principal increases were as follow;— Total, 1918-19. Increase,. ; £ £ Customs 102,780,000 ' 31,519,000 Excise. 69,440,000 20,668,000 Stamps 12,438,000 4,136,000 Income tax 291,186,000 61,677X00 Excess profits 285;028,000 64,814.000 Post Office ... 10.0C0.C00 4,700,000 !>" the dC1,578,000 in decreases compared with 1917-18 tho death duties accounted for dt1,412,0011.- Land value duties declined by ,£21,000 from .£685,000 in the previous year.
Tho total revenue, shows a realised surplus of £16,970,825 over Mr. Bonar Law's estimates for the year, viz., .£812,050,000. How the revenue compares with the estimates in the main items is 6hown as follows:—
_ . Inc. Estimate. Revenue, or dec. £ £ £ OuEtoms 94,500,000 102,780,000 + 8,2£0,000 Excise ...... 53,200,CC0 59,440.000 + 6,240,000 •Death duties 31,500,000 30,262,000 - 1,238,000 Income tax 290,450,000 291.186,000 + 736,000 Excess profits 300.C00.0C0 285,028,000 - 14,972,000 Post Office l ... 38,000,000 40,000,000 + 2,000,C00 Ihe totfil expenditure ' chargeable against revenue for the year 1918-19 was .£2,579,301,188, a decrease' of i£11(i,92f1,217 compared with 1917-18. Compared with the total expenditure, the revenue for the past year leaves a deficit of £1,690,280,dw.'
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Dominion, Volume 12, Issue 224, 16 June 1919, Page 5
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1921,690 MILLIONS DEFICIT Dominion, Volume 12, Issue 224, 16 June 1919, Page 5
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