§ Mr. Geoffrey Finsberg
asked the Secretary of State for Employment what was the balance standing to the credit of the redundancy fund at the date of reducing the employer's rebate from 50 per cent.; what is the balance to the latest convenient date; and if he will now restore the 50 per cent. rebate.
§ Mr. Golding
Rebate was reduced from 50 to 41 per cent. on 14th August 1977. At 31st July 1977 the Redundancy Fund had a credit balance of £14.2 million. At 31st May 1978 the credit balance was £47.9 million. The possibility of restoring rebate to 50 per cent. is under consideration.