During that period the revenue of the Irish Exchequer will consist of a sum transferred annually from the Imperial Exchequer, and termed in the Bill the Transferred Sum, together with the receipts of the Irish Post Office. The Transferred Sum will be fixed at the outset at such amount as will cover, with the addition of the Post Office revenue, the present expenditure on Irish Government, with the exception of the cost of the Reserved Services. Included in the Transferred Sum will also be a specified sum as surplus. The amount of this surplus will be L500,000 annually for a period of three years, then diminishing by L50,000 a year for six years till it reaches L200,000, at which sum it will remain. Subject to this variation in the amount of the surplus and to certain minor variations specified in the Bill, and subject also to any changes consequent upon the exercise by the Irish Parliament of the powers of increasing or reducing taxation which are defined below, the amount of the Transferred Sum, fixed in the first year after the passing of the Act, will remain the same until an equilibrium is reached between the total revenue derived from Ireland and the total expenditure on Irish purposes. _Revenue of the Imperial Exchequer from Ireland._ The Bill provides that until such equilibrium is established the whole of the proceeds of all Irish taxes shall be collected by the Treasury of the United Kingdom, and be paid into the Imperial Exchequer. (This provision does not apply to Post Office revenue.) The revenue so collected should be sufficient to cover the Transferred Sum and to provide a balance sufficient to defray a part of the cost of the Reserved Services. As the revenue from Ireland increases in the future, the receipts of the Imperial Exchequer will increase proportionately, and the yearly deficit which will fall at the outset upon the Imperial Exchequer will gradually be lessened and ultimately disappear. _Joint Exchequer Board._ The Bill establishes a Joint Exchequer Board of Great Britain and Ireland, consisting of two members appointed by the Imperial Treasury and two by the Irish Treasury, with a Chairman appointed by His Majesty the King. The duty of the Board will be to determine certain questions of fact arising from time to time under the financial provisions of the Bill. The figures given in this Paper are estimates only, and do not purport to be final. The Bill, therefore, does not rest upon these figures, but enables fuller returns to be obtained after the passing of the Act, and it provides that the amounts of Irish Revenue and Expenditure for the purposes of the Act shall be, not the figures given in this Paper, but such sums as may be determined after the passing of the Act, upon the basis of these fuller returns and of the more accurate figures of Revenue and Expenditure which will then be available, by the Joint Exchequer Board. _Revenue and Expenditure Accounts._