Britain’s Finance
4.30 O’CLOCK EDITION
A CHEERFUL POSITION BIQ BURPLUB REPORTED ▼O BE APPLIED TO DEFENCE United Press Assn.—Elec. TeL Copyrlffct (Received April 1, 3.28 p.m.) LONDON, March 31 A cheering start for Blr John Simon, who will introduce hie first Budget on April 26, Is afforded In the Treasury returns, showing that the realised surplus at the end of the financial year was £28,786,000, compared with Mr Chamberlain's estimated surplus of £252,000. The year’s revenue amounted to £872,680,000, which was £9,480,000 above the estimate. The expenditure was £973,794,000, which was £19,064,000 below the estimate. The Budget on April 26 would normally have been exceptionally favourable, but the re-armament programme alters the situation. The surplus will. In accordance with the Defence Loan Act of 1937. be available for use during the coming year to meet the defence expenditure, which otherwise would have been met from borrowed money.
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Bibliographic details
Waikato Times, Volume 122, Issue 20463, 1 April 1938, Page 8
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147Britain’s Finance Waikato Times, Volume 122, Issue 20463, 1 April 1938, Page 8
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