HC Deb 27 May 1935 vol 302 cc780-2W

asked the Chancellor of the Exchequer whether, in view of the report of the Government Actuary on the finances of the Widows', Orphans', and Old Age Contributory Pensions Acts, 1925 to 1932, that the existing rates of normal contributions are insufficient to meet future liabilities, he proposes to investigate the matter, and especially with regard to the future of State commitments?


My hon. Friend appears to be under a misapprehension. The Government Actuary's report does not indicate that the contributions of employers and workers, which are to be raised in January next as required by the provisions in the principal Act relating to decennial increases, together with the Exchequer contributions on the increasing scale at present fixed by Statute, are likely to be inadequate on any reasonable forecast of the future course of unemployment. In the circumstances, I see no reason for any investigation additional to that which the Government Actuary has just completed.