FINANCING THE WAR
BRITAIN'S BILL FOR A YEAR.
TOTAL OF £8,760,000,000 SPENT.
LONDON, April 1
Britain’s war expenditure, which totalled £8,700,000,000 for the year just ended, showed a deficit of £2,458,000,000. Revenue was greater by £49,000,000 than was expected, largely because of the ready response to war taxes imposed lost. July. The average cost a day in the last 12 months was £10,500,000, rising to an average of £13,000,000 a day in the last three months.
Expenditure, even at these high figurs, was £110,000,000 less than was anticipated, and at the same time the position has been further improved by the remarkable buoyancy shown in revenue, in spite of war difficulties. Income tax produced £134,000,000 more than last year, totalling £524,000.000. Post Office revenue increased by £7,500,000 'and the excess profits tax yielded £2,000,000 more than was expected.
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Ashburton Guardian, Volume 61, Issue 146, 2 April 1941, Page 5
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138FINANCING THE WAR Ashburton Guardian, Volume 61, Issue 146, 2 April 1941, Page 5
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