NOTE. The figures in the above Table (No. 93) represent the net receipts approximately. The expression "Net Receipt means the amount actually collected within the year ended 31st March (no matter for what year tax may have been assessed or charged) less the amount refunded, etc., within the year. It necessarily differs somewhat from the payment into the Exchequer (Exchequer Receipt) in the same year, as shown in Table No. 91, by reason of the time occupied by the remittance of revenue from provincial centres to London.

(a) Great Britain and Northern Ireland, except items marked (g), (h) and (j), as to which see relative notes on p. 116. (b) The duty on cider was repealed as from 1st May, 1923. (c) The duty on Mechanical Lighters was repealed as from 4th August, 1921. (d) Arrears of repayments. (e) Duties not levied from 2nd August, 1924, to 30th June, 1925. () Net repayments.

798

Table continued on next page.

I 2

IMPERIAL REVENUE, EXPENDITURE, &c.

No. 93.-NET RECEIPTS from PRINCIPAL HEADS of REVENUE

(Compiled from the Finance Accounts

HEADS OF REVENUE AND ARTICLES. 1912-3. 1913-4. 1914-5. 1915-6. 1916-7. 1917-8. 1918-9. 1919-20.

(a) See note (a) p. 115. (e) See note (e) p. 115. (f) See note (f) p. 115. g) Excluding Northern Ireland from 22nd November, 1921. (h) Applicable to England and Wales only. (i) This duty was not collected from Railways controlled by the Government from 1st January, 1917, to 15th August, 1921. (1) Duties applicable to Great Britain only. (k) Deductions due to excess of amounts appropriated in the year over amounts deposited.

(1) Including adjustments for 1922-23 with the Irish Free State in respect of revenue collected in Great Britain and Northern Ireland, but attributable to the Irish Free State, and vice versa, viz., a deduction from Customs revenue of £4,890,000 in 1923-24 and additions to Excise revenue of £7,140,000 in 1923-24, £582,000 in 1924-25 and £54,000 in 1925-26. (m) Receipts from Betting Certificates are included in "Other Licences." (n) The net receipt of Income Tax, &c., represents the amount of Tax actually collected within the year (irrespective of the year of assessment) less the amount of Tax refunded, &c., within the year (see note (5) on page 145). The amounts under the several schedules show the approximate net receipt of the Tax based on the assessments of income under each schedule.

IMPERIAL REVENUE, EXPENDITURE, &C.

No. 94.-TOTAL AMOUNT of the GROSS CAPITAL LIABILITIES of the STATE, the ESTIMATED ASSETS, and the EXCHEQUER BALANCES on 31st March of each YEAR.

(Compiled from the Finance Accounts of the United Kingdom and from Parliamentary Paper, Cmd. 2943 of 1927.)

NOTE. For further details and explanations of the above Statement, see Parliamentary Paper, Cd. 2943 of 1927. (a) The Exchequer Bonds issued under the Capital Expenditure (Money) Act, 1904, for the purposes of the Naval and Military Works Acts, under the Cunard Agreement (Money) Act, 1904, and under the Telephone Transfer Act, 1911, are not included in the Unfunded Debt (Col. 3), but in the other Capital Liabilities (Col. 5).

(b) This amount represents Funding Loan and Victory Bonds which have been tendered for Death Duties, and are being held by the National Debt Commissioners until drawn or paid off.