Expenditure in 1943–44

Financial Statement – in the House of Commons on 25th April 1944.

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The total issues for the year were £5,799,000,000, or £43,000,000 more than the Budget estimates. The £375,000,000 provided for the debt charge covered the whole of our interest liability and left £10,000,000 towards the contractual Sinking Funds. Supply other than the Vote of Credit required £6,000,000 less than the Budget estimate, despite Supplementary Estimates introduced during the year for some £6,000,000, mainly for the supplementing of old age pensions and supplies of clothing to Russia. The total issues out of the Vote of Credit were £4,950,000,000 compared with the Budget estimate of £4,900,000,000, which estimate, however, excluded whatever might be the year's expenditure on war damage. Vote of Credit expenditure for the year was thus, as the Committee will see, remarkably close to the estimate.