HC Deb 18 November 1937 vol 329 cc550-1
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. Hall

Does not the Act of 1934 provide that, if the fund is sufficient or more than sufficient to meet the demands upon it, the Committee can consider whether the income is more than sufficient and decide about the surplus?

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. Hall

Will not the Minister make representations to the Committee and ask them to meet, seeing that there is a surplus?

Mr. Brown

I think that that would be most improper. The Committee are doing their work in an admirable manner.

Mr. J. Griffiths

Is the solvency of the Fund more important than the solvency of the unemployed?

Mr. Brown

The solvency of the unemployed depends on the solvency of the Fund.

Mr. Lawson

How is it that the right hon. Gentleman was able to make in advance a statement about the surplus?

Mr. Brown

I made no statement on the matter except as to figures, which are open for all members of the public to see.

Mr. Lawson

Cannot the right hon. Gentleman make a statement as to the possible balance?

Mr. Brown

On a proper occasion, certainly, either inside the House or outside it.