§ 15. Mr. George Hall
asked the Minister of Labour whether in view of the large surplus in the Unemployment Insurance Fund, he will take action to distribute a portion of the surplus in the very near future?
§ Mr. E. Brown
The Unemployment Fund has a large balance in hand, but I would remind the hon. Member that over £50,000,000 is required as reserves, and cannot properly be described as a surplus. The amount of any disposable surplus in the fund will not be known until the Unemployment Insurance Statutory Committee present their report upon the financial condition of the fund as at 31st December next.
§ Mr. Brown
It is in the interests of the unemployed that the fund should be kept solvent and should be properly administered. The law requires the Committee to present a report before the end of February, 1938. They can, of course, report before that if they so wish, but that is a matter for their judgment, and I cannot interfere.
§ Mr. Lawson
How is it that the right hon. Gentleman was able to make in advance a statement about the surplus?