The Government, as I have stated, estimates the revenue of 1912-13 at £10,839,000. That sum represents the whole “true” revenue of Ireland, viz., taxes and miscellaneous, £9,485,000; Post Office Revenue, £1,354,000. The Imperial Government adds to this revenue of £10,839,000 a free gift of £500,000 at the cost of the British taxpayer, in order to give the Irish Government a fair start. The total Irish income in the year 1912-13 will therefore be £11,339,000. On the other side of the account, the Imperial Government retains in its own hand various Irish Services, termed in the Bill “_Reserved Services_,” described later. It transfers from the British to the Irish Exchequer the sum allotted to Irish Expenditure (outside the Reserved Services), estimated in 1912-13 at £5,462,000, the cost of the Postal Service £1,600,000,(104) and £500,000, the free gift mentioned above, making a total transfer of £7,562,000. If in the future the sum of £5,462,000 allotted to Irish Expenditure and the free gift of £500,000 are exceeded, the Irish Legislature must provide the necessary ways and means. The transfer of £7,562,000 from the British to the Irish Exchequer leaves a balance on the British Exchequer on the Irish Account of £3,777,000(105) free to that extent to meet the charge of the Reserved Services. These Reserved Services are: (1) Old-age Pensions £2,664,000 (2) National Insurance Labour Exchange £191,500 (3) Land Purchase £761,000 (4) Constabulary £1,377,500 (5) Collection of Revenue £298,000 Total £5,292,000 Therefore the excess of Irish Expenditure in 1912-13 over Irish Revenue as provided results in a deficit of £1,515,000 payable by the British taxpayer, and if the free gift of £500,000 by the British taxpayer included in the provided revenue be added, the total charge on the British taxpayer in 1912-13 on account of Irish Expenditure is £2,015,000. This annual gift of £500,000 is after three years to diminish yearly by £50,000, until a minimum of £200,000 is reached, which will eventually represent the gift of Great Britain to Ireland, until prosperity or good management enables Ireland to pay her own way, and at the last to make a contribution to Imperial Expenditure. The Government estimates a normal growth in Irish Revenue of £200,000 a year, which, to the extent it is realised, will reduce the deficit payable by the British taxpayer. The Imperial guarantee on Irish Land Stock is to continue in full force. EFFECT OF FUTURE MODIFICATION If the Imperial Parliament increases or reduces taxation, the change will not affect the Irish Budget, for the transferred sum will remain unaltered.