Forums Forums National News The Budget of ... when?

The budget is coming, but what will it bring?

Below is an extract of an old Budget speech. It makes interesting reading. But what was the year?

"I come next to the Road Fund. The revenue of the Road Fund is growing rapidly. The Estimate for last year was £1,000,000 over the Estimate of the year before. The yield of last year exceeded this increased Estimate by £500,000. The estimated yield of the existing Motor Licence Duties, which were designed in 1920 to produce about £8,000,000 a year, is for next year no less than £20,100,000—more than £2,000,000 increase on the increased yield of last year. There is also a surplus of nearly £19,000,000 in reserve. This island is better supplied with roads than any other equal area in the world, and those roads are better maintained than in any other country. We have also a magnificent railway system, on which £1,200,000,000 of British capital have been spent. The immense developments of motor transport since the War raise several serious questions. Of these the first is, what is the relationship of the roads to the railways, and of road transport to railway transport? No one can be unappreciative of the great advantage to the country of motor transport. The convenience, the pleasure of millions, is only a part, and the lesser part. In the spreading use of the motor lorry, we have evidently obtained a new and powerful stimulus to that internal trade which exceeds, perhaps, tenfold all the oversea transactions of the country.
A retrograde policy, or even a stand-still policy in motor transport, is a folly no one is ever likely to commit or is ever likely to be allowed to commit. Motor transport will steadily increase, and the roads must not only he maintained, but must progressively improve. Nevertheless, it is impossible to watch this development which is taking place "

mid 1950s

Those tax discs would have long expired by then...

But what a statement to make "This island is better supplied with roads than any other equal area in the world, and those roads are better maintained than in any other country."

Wow. What happened?

Any more guesses as to the year?

It was before 1930 and after 1926 and I'm guessing 1927?

Hi DD.
Oh so very close.

What do you think of -

"We have also a magnificent railway system, on which £1,200,000,000 of British capital have been spent. "

But it's just a throwaway line when the timescale isn't quoted.

Must have been 1928 then, I'm fairly certain it wasn't 1929. By 1930 motor vehicle taxes raised around £40m, there was a massive increase between 1925 and 1930.

I'm a bit confused on the railway budget, the railways weren't privatised until 1948 although they were state run from 1914 to 1921 so that must be when most of that money must have been spent?

Well, if it was 1928 your tax disc would have well expired by the time of this budget.

What do they say - 'Lies, Damm Lies and Statistics' - might explain the railways, but £1.2 Billion seems an awful lot for then..

Have another go.

Bit earlier I guess at 1926 as you said DD was close so I have gone the other direction

Yes, 1926 it was. Great.

The full transcript is on one of the gov.uk research sites, but I don't have the link to hand right now. They are a good read if you can't get to sleep...