Britain’s Surplus £100,000,000 Above Estimate
LONDON, March 31. Britain had a surplus of £567,461,907 at the close of the financial year tonight—nearly £100,000,000 more than the Chancellor of the Exchequer, Sir Stafford Cripps, expected. The real or “overall” surplus amounted t£> £62,000,000—£48,000,000 above Sir ’Stafford Cripps’ estimate. Since last April, when the financial year opened, the ordinary revenue totalled £3,924,030,898 and the expenditure £3,356,568,991.
When Sir Stafford Cripps announced his “austerity” Budget last April he estimated that his surplus would amount to £470,000,000. His hopes have been exceeded by £97,461.907. Reuter says that before the war these surpluses would have justified optimistic hopes of big-scale tax reductions, but now, though they show a stable monetary position, the Chancellor is still faced with a dollar gap and the dangers of inflation and it is expected that he will probably budget once again for a big surplus and maintain his policy of holding back purchasing power.
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Bibliographic details
Gisborne Herald, Volume LXXVII, Issue 23219, 3 April 1950, Page 7
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154Britain’s Surplus £100,000,000 Above Estimate Gisborne Herald, Volume LXXVII, Issue 23219, 3 April 1950, Page 7
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