HC Deb 05 December 1935 vol 307 c266
2. Mr. LEACH

asked the Minister of Labour what is the estimated surplus of the Unemployment Insurance Fund to the nearest convenient date; at what rate it is now accumulating; and what measures he proposes for its absorption?

Lieut.-Colonel MUIRHEAD

The estimated surplus on the Insurance Account of the Unemployment Fund at 30th November, 1935, was £20,340,000. At the present time, the surplus is accumulating at the rate of about £290,000 a week. In reply to the last part of the question, my right hon. Friend is required by Statute to await any recommendations on the subject by the Unemployment Insurance Statutory Committee. The next report of the Committee will be made not later than the end of February, 1936, and will deal with the financial condition of the Unemployment Fund up to the end of 1935.


Does the hon. and gallant Gentleman not agree that this is a magnificent opportunity to get rid of the means test?