§ 42. Mr. LIDDALL (for Sir GEORGE MITCHESON)asked the Minister of Labour the amount standing to the credit of the Insurance Fund at the end of March; whether this is greater than that estimated by the Statutory Committee; and whether it is proposed to use any part of this surplus for the reduction of the debt of the fund?
§ Lieut.-Colonel MUIRHEADAt 31st March, 1936, the balance on the insurance account of the Unemployment Fund was about £24,250,000. The Unemployment Insurance Statutory Committee have 152 made no forecast of the estimated balance at that date. As regards the last part of the question I would remind my hon. Friend that it has been decided to reduce the rates of contribution, in accordance with the recommendation of the committee. No further action with regard to the finance of the fund is contemplated at present and as regards the question of applying a surplus or part of a surplus to the reduction of debt I would invite my hon. Friend's attention to paragraph 33 of the committee's report of 7th February last.