§ Mr. Hayhoeasked the Secretary of State for Employment what is the present balance in the Redundancy Fund; and what was the balance at the end of each of the last 12 months.
§ Mr. GoldingAs at 7th January 1977, the redundancy fund was in credit £5,854,406. The state of the fund on the last Friday of each of the previous 12 months was as follows:
] A weekly allocation is made to the redundancy fund from the Department of Health and Social Security based on estimated receipts of secondary Class I earnings-related contributions. Adjusting payments are made as appropriate. One such payment of approximately £6 million was received during December 1976.
£ 30th January 1976 deficit 59,403 27th February 1976 deficit 1,248,746 26th March 1976 deficit 4,231,636 30th April 1976 deficit 4,618,525 28th May 1976 deficit 6,938,024 25th June 1976 deficit 7,595,256 30th July 1976 deficit 7,835,410 27th August 1976 deficit 7,933,457 24th September 1976 deficit 6,872,065 29th October 1976 deficit 5,184,904 26th November 1976 deficit 4,889,110 31st December 1976 credit balance 5,270,467