§ 13. Sir ASSHETON POWNALL
asked the Minister of Labour what is the present indebtedness of the unemployment insurance fund; and how much the debt will increase each week if the live register increases by 100,000 over the present figure?
§ Miss BONDFIELD
The debt of the unemployment fund on the 8th February, 1930, was £36,770,000. If the live register were 100,000 higher than it is now, the total excess of outgoings over revenue, so far as can be estimated at present, would be about £300,000 per week on the 577 average, excluding interest accruing due, which is paid half-yearly in September and March.
§ Sir A. POWNALL
Can the right hon. Lady say how long it will take, if the extra 100,000 unemployed materialises, for the extent of the present borrowing powers to be reached?