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.
_Revenue of the Irish Exchequer._
The Bill provides, in the first instance, for the period during which
the yield of Irish taxes is less than the cost of Irish administration,
and contemplates certain modifications after a financial equilibrium
has been attained.
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.
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