§ Lady Olga MaitlandTo ask the Secretary of State for Social Security if he will make a further allocation of funds to the discretionary social fund budget.
§ Mr. Roger EvansAs a result of the improved recoveries of social fund loans, I am pleased to announce that a further £13 million, funded from these additional recoveries, will be made available to the Benefits Agency's district offices on 23 November 1994.
The whole of the additional allocation will be devoted to social fund loans. We believe that social fund loans offer excellent value for money. They enable us to target available resources on those in most need and to recycle funds to help more applicants.
Since the scheme started, we have been able to make £1.2 billion worth of loans for an outlay of only £280 74W million. This expansion of the social fund loans budget will ensure that more people receive help and that the fund continues to play a valuable role in complementing mainstream social security provision.
Details of individual district allocations have been placed in the Library.