HC Deb 03 December 1919 vol 122 c382
29. Mr. W. THORNE

asked the Minister of Labour the amount of funds which have accumulated under Part II. of the National Insurance Act?

Sir R. HORNE

The amount of funds which have accumulated under Part II. of the National Insurance Act is £19,075,000. Payments totalling this amount have from time to time been made to the National Debt Commissioners for investment on account of the Unemployment Fund pursuant to Section 92 (3) of the Act.

Mr. THORNE

Does that total sum include the interest upon investment or is it plus the interest on investment?

Sir R. HORNE

It includes everything. It is the whole fund at the present time out of which unemployment benefit can be paid.

Mr. THORNE

In face of that huge sum, is not the right hon. Gentleman in a position to extend the proposal before the House and make it 15s. a week?

Sir R. HORNE

No. My hon. Friend will understand that the 11s. which is proposed to be paid is based upon the accumulated funds which are in existence.