SOCIAL SECURITY FUND

Ashburton Guardian, Volume 69, Issue 263, 19 August 1949, Page 4

SOCIAL SECURITY FUND

ESTIMATES FOR YEAR ' v. (Special to “Guardian”). WELLINGTON, This Day. “There was a credit balance in the Social Security Fund of £8,682,000 as at March 31 last,” said the Rt. Hon. W. Nash in the Budget last night.

“For the current year it is estimated that social security taxation will realise £31,600,000, and it is proposed, to provide £12,000,000 from the Consolidated Fund. Including provision for increased benefits amounting to £1,800,000, the estimated expenditure from the fund will amount ' to £46,224,000. “The following gives a summary of the anticipated receipts and payments of the Fund for the current year: “Estimated Expenditure —Monetary benefits other than family benefits, £22,260,000; family benefits, £14,800,000; medical and hospital benefits, £8,059,000; administration expenses, £793,000; emergency benefits, £312,000; total £46,224,000. “Estimated Receipts—Social security charge, £31,600,000; miscellaneous receipts, £36,000; transfer from Consolidated Fund, £12,000,000; total £43,630,000. ‘'Expenditure in excess of receipts will be met from the cash balance carried forward in the fund last year.”