§ Mr. ASTORasked the Chancellor of the Exchequer if he will state the estimated cost of valuation of the assets and liabilities of approved societies under Clause 29 (1) of the National Insurance Bill; and from what fund will such cost be defrayed?
§ The CHANCELLOR of the EXCHEQUER (Mr. Lloyd George)I fear I cannot give any estimate at the present stage. Expenses incurred by the Treasury under Clause 29 (1) (including the remuneration of the valuers to be appointed by the Treasury) would under Clause 41 (2) be met out of Voted moneys.
§ Mr. ASTORHas it not been found necessary to estimate the cost of this valuation in preparing the Bill?
§ Mr. LLOYD GEORGEThe amount is not really so large in proportion to the enormous contribution of the Treasury as to make any real difference on the actuarial estimate.
§ Mr. BOOTHIs the right hon. Gentleman aware that the general view among insurance offices is that it will be 2s. per head?
§ Mr. LLOYD GEORGENo; I am sure my hon. Friend is quite misinformed on that subject. I shall be greatly surprised if there is any actuary who will commit himself to such a proposition.