HC Deb 09 May 1935 vol 301 cc1117-8
3. Sir J. POWER

asked the Minister of Labour the present debt of the Unemployment Insurance Fund and also the sum now standing to the credit of the fund?


The amount of the funded debt of the Unemployment Fund outstanding is about £105,660,000. After allowing for the accrued charge for debt services under Section 60 of the Unemployment Insurance Act, 1935, there is a sum of approximately £11,700,000 in hand on the insurance account of the fund.


Is it not time that the Committee which was appointed for the purpose reviewed the financial position with a view to improving the conditions of standard benefit to something like what they were before the economy cuts were made?


The hon. Member will be aware that the Committee has issued one report in which it said it contemplated a further report during the summer. I understand that further inquiry is now in progress.