A LARGER CREDIT

Evening Post, Volume CXVII, Issue 76, 31 March 1934, Page 12

A LARGER CREDIT

UNEMPLOYMENT FUNDS

FIGURES FOR NINE MONTHS

STATEMENT BY MR. W. NASH, M-.P- •

Mr. Walter Nnsh, M.P., in an interview with a "Post"' reporter today, commented on the fact that the receipts from the . emergency unemployment charge for the nine months ended December 31, 1933, as compared with the corresponding period of 1932, were up by over half a million pounds. The actual figures, said Mr. Isash, were: — ■ £ Nine months ended Dec. 31, 1033 .... 3,008,029 Nine months ended Dee. 31, 1932 2,589,581 Increase £ 508,448 '' This suggests a substantial improvement in so far as ordinary incomes are concerned," continued Mr. Nash. "The emergency unemployment charge, however,-was amended in 1932, and the new rate of Is in the £ became operative as from May 1, 1932, so that for one mouth of the 1932 figures the rate would be at 3d in the £ —whic,h would require a slight discounting of the comparative figures. "Tho income of the. Unemployment Board, however, has increased by half a million pounds on this account. TOTAL CASH FOR DISPOSAL. "Taking the total receipts together with cash in hand at the beginning of the period, the board's funds for the nine months period ended December 31, 1933, were three-quarters of a million pounds in excess "of the correspondingperiod of the previous yeai\- The figures are:— ■ ' & Nine months to Dec. 31, 1933 3,852,820 Nine months to Dec. 31, 1932 3,100,045 Increase £.752,775 "The expenditure of the board during the same period has increased by nearly £200,000, but a large proportion of this-increase (at least £60,000 to £70,000) is duo to the board taking over, commitments.'.that -were previously met by hospital boards. ' • The expenditure during the same comparative periods is as follows: — .' ' ■■"" £ Nine months ended Dec. 31, . 1933 .... 1....... 2,623,91G Nine months ended Dec. 31, . 1932 .1. ...... 2,442,451 • . 'Increase £181,465 "A point of some importance is the cash balance held by the board on December 31 in each year. Last December the board had between £400,000 and £500,000 more in hand than on the corresponding day of the previous year, as shown by the figures: & Cash in hand Dec. 31, 1933 830,137 Cash in. hand Dec. 31, .1932 392,621 Actual increase in cash , balance ............ £437,516 MATTER OF URGENT INTEREST. "That the niattei* is of urgent public interest is revealed by the- fact that the total balances of' the board on December 31 last were £575,000 greater than at tho corresponding period of tho previous year: The figures are: £ ; Balance Dec. _31, 1933 ...; 1,228,904 ' Balance Dec. 3>l, '• 193.2'•;... r: 657,593 Increase .......... £571,311 "Qne hundred thousand pounds of the increased'balance has been used to purchase securities and is credited to an investment account," said Mr. Nash. "Tho position as shown by the accounts is that, whilst the fund is greater by ah additional £750,000, yet many of- the relief workers are .'worse off than they were in the previous year," said Mr. Nash. "The Unemployment Board may have a complete explanation of the above figures—it may have commitments that have not yet been published—but the general public, who subscribe the funds, the relief workers whose families have to exist on the allocations, and the body of large-hearted people who continue to find a little here and there to meet deficiencies in relief workers" incomes, should be made aware of the actual position."

Anyone desirous of verifying the figures quoted eonia do so \>y reference to pages 258/9 of Gazette-number 7, published, on _ February 12, Mr. Nash said in conclusion. :