§ Mr. GODFREY LOCKER-LAMPSONasked whether the term minimum benefits employed in connection with the benefits set out under Clause 8 of the National Insurance Bill is a misnomer; whether these so-called minimum benfits are reducible under the operation of Clause 31, and will in certain eventualities not be paid; and whether the term average benefits would describe them more accurately?
§ Mr. LLOYD GEORGEHaving regard to the amount of margin allowed by the actuaries, I hope that the occurrence of a deficiency will be quite exceptional. Moreover, a society which through gross mismanagement or for any other reason has incurred a deficiency, has the option of meeting it by a levy instead of by a reduction of benefits. The term average benefits would be very misleading, since there is every reason to suppose that the aver- 1138 age benefits will substantially exceed those which have been termed the minimum.
§ Mr. G. LOCKER-LAMPSONIs it not the case that in an appreciable number of cases a good deal less than the minimum benefits will be paid?
§ Mr. LLOYD GEORGENo, I do not think so. On the contrary, I should put it the other way about: that in the vast majority of cases considerably more than the minimum benefits will be paid. I think it is perfectly safe to say that after consultation with the actuaries.