§ 1. Mr. SMITHERS
asked the Minister of Labour if she can state the approximate date when it will next be necessary for her to obtain the sanction of this House for further borrowing on behalf of the Unemployment Insurance Fund?
§ The MINISTER OF LABOUR (Miss Bondfield)
On 10th April, 1931, the debt of the Unemployment Fund was £76,940,000. The date by which the present borrowing powers of £90,000,000 will be exhausted, depends on the number of persons receiving ordinary benefit, but at the rate of borrowing for the four weeks preceding 10th April the borrowing powers would be exhausted in about 13 weeks.
§ Mr. SMITHERS
Would the Minister of Labour ask the Royal Commission to report as soon as possible in order that steps may be taken to put the Fund on an actuarial basis?