§ 71. Mr. HANNONasked the Minister of Labour what is the present amount of indebtedness of the Unemployment Insurance Fund; and whether he can present a statement showing the weekly receipts of the fund and the amount paid out weekly in benefits?
§ Sir M. BARLOWThe amount borrowed by the Unemployment Fund is at present £14,550,000. For the week ending 17th 692 November, the income of the Unemployment Fund was approximately £847,500, made up as follows:
The expenditure for the same week, on unemployment benefit was £888,000, to which should be added about £99,000 for administrative expenses (11 per cent, of the average weekly income), together with £21,000 for interest on the loan and other items, making a total of £1,008,000.
Contributions by employers and employed £625,000 Contributions by the State £222,500