HC Deb 14 July 1936 vol 314 cc1876-7
72. Mr. LYONS

asked the Minister of Labour the amount standing to the credit of the Insurance Fund at the end of June; and what is the contemplated appropriation thereof?

The MINISTER of LABOUR (Mr. Ernest Brown)

On 30th June, 1936, the total balance on the general account and on the agricultural account of the Unemployment Fund was about £29,100,000. As regards the second part of the question, I would remind my hon. Friend that the existence of the balance does not imply a surplus in the Unemployment Fund, particularly as a reduction in the rates of contributions under the general scheme of 1d. all round in respect of contributors of 18 years and upwards amounting to £6,500,000 per annum, came into operation at the beginning of this month.


Does not my right hon. Friend's information make it abundantly clear that the position of the Unemployment Fund is such that benefit has been definitely safeguarded through the work of the present Government?


It has been a great success.

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