§ 57. Mr. CURRIEasked what funds have been issued up to 30th September, 1910, by the Insurance Commissioners to approved societies for investment; and what funds have been invested by the Insurance Commissioners on behalf of approved societies up to the same date?
§ Sir E. CORNWALLThe funds issued up to 30th September, 1916, by the Commissioners to approved societies for investment in the names of their trustees amounted to £4,031,000. The funds invested by the Commissions on behalf of approved societies in securities selected by the societies amounted to £748,400 up to the same date.
§ 58. Mr. CURRIEasked whether, in addition to the depreciation of £4,500,000 sterling existing upon the £30.000,000 sterling invested by the National Debt Commissioners there exists a further depreciation in the funds invested by approved societies on funds invested by the 1300 National Health Insurance Commissioners on their behalf as at. say, the 30th September, 1916?
§ Sir E. CORNWALLMy hon. Friend is doubtless aware that the general depreciation affecting investments must in some measure affect the funds invested by approved societies. No return has been called for from the societies, and, in view of the pressure at which they are working, I do not think it would be desirable to press for a return at present. As regards funds invested by the Commission on behalf of societies in securities selected by the societies, the amount invested to 30th September, 1916, was £748,400; the approximate value of the securities in question at current market prices on 30th September, 1916, was £702,150.
§ Mr. BOOTHIs the hon. Gentleman aware that the bad investments by the Government of the approved societies money must lead to a postponement of those extra benefits which were promised on the introduction of the Bill?
§ Sir E. CORNWALLSeveral matters are being inquired into very fully just now. Later on the question raised by my hon. Friend no doubt will hive to be dealt with.