ESTIMATE

calculation of probable cost; a provisional valuation. In building, printing and other busine transactions it is usual for the prospective customer or client to ask for a statetnent giving an estimate of probable cost. He often asks for two or more estimates from different firms in order to compare one with another. In parliamentary procedure the proposed expenditure of the country is put before the House of Commons in the form of estimates. These are divided into navy, army, civil service and other branches and each shows the amount of money required for the coming financial year. After they have been pa ed the Chancellor of the Ixchequer can frame his budget. Hach year the House appoints a committee to examine the estimates and report on them.