UNEMPLOYMENT INSURANCE

Evening Star, Issue 20720, 17 February 1931, Page 12

UNEMPLOYMENT INSURANCE

THE BRITISH FUND INCREASED BORROWING POWERS PROPOSED. (British Official Wireless.) Press Association—By Telegraph—Copyright. RUGBY, February IG. (Received February 17, at noon.) In the House of Commons Miss Bondfield moved a resolution to authorise an increase of £2O,UOU,UUU in the borrowing powers of the Unemployment Insurance Fund. Miss Bondfield reviewed tho finances of tho fund and the cause's and increases in the number of unemployed, among which was mentioned the effect of rationalisation, instancing the introduction of one machine in cigarette making which, with the attention of three workers, had a productive capacity equal to that of 7UO bands. Referring to the investigation of the Royal Commission which is to report on unemployment insurance and recommend how to restore the solvency ol the fund, Miss Bondfield said the Government would not hesitate to deal with any abuses which tho commission considered proven. The Opposition moved an amendment to reduce the increase in borrowing powers to £10,000.000. Tho debate is proceeding. . , , , ~ Miss Bondfield admitted that it could not yet bo assured that the peak of unemployment had been reached. The insurance fund’s debt was now £67,000,000- The proposed new loan would be exhausted by July unless unemployment was substantially decreased. Other countries had worse unemployment. Germany had 4,705,000 and the United States on a conservative estimate had 6,000,000 totally and 4,500,000 partially unemployed, excluding agriculture. Instancing the displacement of labour bv amalgamations and new machinery, Miss Bondfield poihtcd out that during the last half-year tho dyeing amalgamations had thrown 1.500 men out of work. Even banks had _ installed machines enabling eighty-six women to do the work of 311 male clerks.