§ 74. Mr. BATEYasked the Chancellor of the Exchequer what is the total amount the Treasury has saved in its payments to the Unemployment Fund under the Economy Act, 1926 The FINANCIAL SECRETARY to the TREASURY (Mr. Arthur Michael Samuel): The saving to the Exchequer is estimated to amount to £14. millions up to the 31st March next.
§ Mr. BATEYIs the hon. Member aware that the debt on the Unemployed Fund is increasing and that this amount to a large extent would wipe off that debt?
Mr. SAMUELI was not aware that those facts are as stated, but I will take note of the hon. Member's observations.
§ 75. Mr. KELLYasked the Chancellor of the Exchequer whether it is proposed to cancel any part of the debt owing to the Treasury in respect of advances to the Unemployment Fund?
Mr. SAMUELNo, Sir. The Exchequer contribution to the unemployment insurance scheme is made by direct grant fixed by statute.
§ Mr. KELLYIn view of this heavy burden, may I ask whether some consideration will not be given to relieving industry and wages from this heavy payment?