It is estimated that the expenditure for Irish purposes in the year 1912-13 will amount to £12,354,000. The expenditure may be divided for the purposes of this Memorandum as follows:—
| £ | |
| All purposes not separately specified | 5,462,000 |
| Post Office | 1,600,000 |
| Old Age Pensions | 2,664,000 |
| Charges under the Land Purchase Acts | 761,000 |
| National Insurance and Labour Exchanges | 191,500 |
| Royal Irish Constabulary | 1,377,500 |
| Collection of revenue | 298,000 |
| Total | 12,354,000 |
The expenditure therefore exceeds the revenue by £1,515,000.
It is anticipated that in a period of ten or fifteen years the charges under the existing Land Purchase Acts will increase by £450,000, and under the National Insurance Act by £300,000. On the other hand, it is estimated that within twenty years the cost of Old Age Pensions will decrease by £200,000.
Charges upon the Irish Exchequer.
The Bill provides for the establishment of an Irish Exchequer and an Irish Consolidated Fund.
From the Irish Exchequer will be defrayed the whole of the present and future cost of Irish government, with the exception of the expenditure on certain services, termed in the Bill Reserved Services.
Charges upon the Imperial Exchequer.
The Imperial Government will retain the control, and the Imperial Exchequer will continue to bear the cost, of the Reserved Services, namely, Old Age Pensions, National Insurance, Labour Exchanges, Land Purchase, and Collection of Taxes. For a period of six years the Royal Irish Constabulary will also be one of the Reserved Services.
There are provisions for the transfer to the Irish Government of certain of the Reserved Services under the conditions stated below.