§ 9. Mr. THORNEasked the Minister of Labour the amount of debt outstanding to the Treasury from the Unemployed Insurance Fund at the end of September, 1933; whether the amount was reduced at the end of December, 1933; and, if so, by what amount?
§ Sir H. BETTERTONThe amount of the outstanding debt of the Unemployment Fund was £115,000,000 on 30th September, 1933, and £110,930,000 on 31st December, 1933, a reduction of £4,070,000.
§ Mr. THORNECan the Minister say from memory what has been done with that balance? Has the amount been paid over to the Treasury?
§ Sir H. BETTERTONThis debt was incurred by advances made for periods of five years and as they fell due they have not been renewed.
§ Mr. THORNEI understand that there was a reduction of something like £4,000,000. I want to find out whether that £4,000,000 has been handed over to the Treasury for the purpose of reducing the debt.
§ Sir H. BETTERTONIt has not been handed over to the Treasury. The debt due to the National Debt Commissioners has been reduced by this amount.
§ Mr. HANNONI wish to ask the Minister whether this repayment by the 2069 Unemployment Insurance Fund is not a definite indication of the improvement in our economic situation during the past eight months?