§ Mrs. Renée Shortasked the Secretary of State for Employment what has been the surplus in the maternity pay fund for each of the last 10 years; and what use has been made of this money.
§ Mr. WaddingtonThe maternity pay fund was established in April 1977 and the surplus at the end of each financial year since then has been:—
March 1978 — £14.1 million March 1979 — £25.2 million March 1980 — £38.9 million The surplus at 31 December 1980 was £51 million.
The surplus has been invested by the National Investment and Loans Office in accordance with directions given by the Treasury and interest on these investments has been added to the fund.