AUSTRALIAN PLAN

Evening Post, Volume CXXI, Issue 16, 20 January 1936, Page 16

AUSTRALIAN PLAN

NATIONAL INSURANCE

Costs involved by the operation in the Com>nonwealth of a national insurance scheme are being investigated by a committee of actuarial experts (says the Melbourne "Age"). A report will be submitted by the actuaries to the special sub-committee of Cabinet which is at present examining a report prepared for the Ministry by the Parliamentary Under-Secretary for Reemployrhent (Sir Frederick Stewart) on , national insurance schemes that have been successfully administered in overseas countries.

Before it prepares its own report the Cabinet sub-committee will first examine the revised figures submitted by the actuarial committee towards the end of February. The actuarial committee is basing its investigations on the scheme incorporated in the Bill introduced into the Federal Parliament by the Minister of Commerce (Mr. Page) when Treasurer of the Bruce-Page Government. The proposal was recommended by a Royal Commission, which sat from 1923 until 1927.

It is realised that the cost of a comprehensive national insurance scheme would be considerably higher than it would have been ten years ago, and it is anticipated that the report of the actuaries will provide a definite estimate on which the Cabinet sub-committee can base its recommendations to the Government. Preliminary figures, however, indicate that the Government could not finance a comprehensive scheme, but it is certain that action could be taken to give effect to a modification of the scheme recommended by the Royal Commission.

A decision will be made on this point early in the new year.