§ 14. Mr. Leaveyasked the Minister of Pensions and National Insurance what he estimates will be the effect on the annual relation of expenditure to income of the National Insurance Fund for the years 1961–1980 if unemployment remains at its current level of about one and a half per cent. during those years.
§ Mr. Boyd-CarpenterAs the hon. Member no doubt knows, long-term estimates of the income and expenditure of the National Insurance Fund have been based since 1951 on an assumption of 4 per cent. unemployment. If unemployment remained at its current level during the period 1961–1980, the estimated annual deficit of the Fund with present rates of benefit and contribution would be reduced by about £65 million.