§ 29. Sir HENRY BETTERTONasked the Minister of Labour the amount by which the deficit on the Unemployment Insurance Fund has increased during each of the last four weeks, after making allowance in each case for accrued interest?
§ Miss BONDFIELDThe debt of the Unemployment Fund during each of the four weeks in question increased as follows:
About £38,000 should be added in each case for accrued interest. The amounts borrowed on 17th and 24th May were affected by necessary inter-Departmental adjustments; these made the amount on 17th May larger and that on 24th May smaller than they would otherwise have been.
£ Week ended 3rd May 380,000 Week ended 10th May 470,000 Week ended 17th May 600,000 Week ended 24th May 110,000
§ Sir A. STEEL-MAITLANDAt the present rate of progress, how long does the Minister anticipate that it will be before the limit of the borrowing powers is reached?
§ Miss BONDFIELDThere is another question on that subject.
§ 2. Sir A. STEEL-MAITLAND (for Sir ASSHETON POWNALL)asked the Minister of Labour what is the debt of the Unemployment Insurance Fund; and by what date the borrowing powers will be exhausted if the unemployment figure remains at the same level as that shown in the last published figures?
§ Miss BONDFIELDThe debt of the Unemployment Fund on 17th May, 1930, was £41,760,000. If the unemployment figure were to remain at 1,739,500, the last published figure, it is probable that the borrowing powers would be exhausted sometime in October.
§ Captain CROOKSHANKCan the right hon. Lady say if the figure is likely to remain at 1,729,500?