§ Mr. RHYS DAVIESasked the Minister of Health whether, having regard to the fact that the Royal Commission on National Health Insurance in 1926 stated that the reserve values credited to approved societies would be converted into actual and invested assets by about the year 1955, thus extending the original date of redemption from 15½ years to 43 years, he will state what is the anticipated date of redemption if such is now altered from the year 1955, the present amount of unredeemed reserve values, and the annual amount now being redeemed?
Sir H. YOUNGThe operations of the provisions of Section 67 of the National Health Insurance Act, 1924, in recent years, and in particular the effect thereon of the abnormal unemployment which has been experienced, are examined in paragraph 55 of the report of the Government Actuary (Cmd. 3978). The reserve values standing to the credit of approved societies at the valuation dates (generally 31st December, 1928) amounted to1176W £49,636,000 in the aggregate, and it is thought that owing to the continuance of the special factors tending to arrest the normal process of redemption the present amount is not substantially different from this sum.