§ 4. Sir ASSHETON POWNALL
asked the Minister of Labour what will be the debt on 1st April of the Unemployment Insurance Fund if the index figure remains substantially the same as at present?
§ Miss BONDFIELD
Assuming that the number on the Live Register remains substantially the same as at present, namely, £1,563,800 it is estimated that the debt of the Unemployment Fund on the 1st April, will be about £39,000,000. The abnormally high level of unemployment which has prevailed since the beginning of January caused a serious drain on the resources of the fund. The borrowing powers of the fund are at present limited to £40,000,000 and proposals for increasing this limit will be laid before Parliament at an early date.
§ Sir A. POWNALL
Will these proposals be laid before Parliament before Easter, as we are now within £1,000,000 of our borrowing powers, and we may run short before Easter?