§ 2. Mr. William Shepherd
asked the Minister of National Insurance what is the current surplus of the Unemployment Fund; and what consideration has been given to a readjustment of the rates of contribution.
§ Dr. Summerskill
The Unemployment Fund ceased to exist on 5th July, 1948, when the balance of about £544 million was absorbed into the general National Insurance (Reserve) Fund. As from that date all National Insurance contributions have been paid into a common fund. The rates are laid down by the Act, and could only be readjusted as part of a general review of the finances of the scheme.