The Archive · 1940

Budget Deficit Fully Covered by Borrowing

London, Dec. 30.

With three-quarters of the financial year completed, Great Britain's total o1 revenue amounts to £544,474,000, while her ordinary expenditure totals £858,835,000. The deficit is fully covered by borrowing authorized by Parliament to meet War expenditure.

The Supply services have absorbed £657,497,000 out of the sum of £1,183,711,000 estimated for the full year.

Revenue for the coming year, largely due to tax increases on the last budget, is akui £ 54,088,000 dis Sir John Simon, will reap the greatest harvest in the fourth quarter, when over £300,000,000 worth of income tax surtax becomes. due.—Reuter, Trawler Attacked by

Text read from the printed page and cleaned; old type leaves the occasional error.

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