SOCIAL SECURITY COST
HEAVY TRANSFER FROM TREASURY UNEMPLOYMENT BENEFIT DECLINES (Special.) WELLINGTON, June 19. Social Security benefits in the last financial year increased to the extent of £1,744,816, of which over £1,000,000 represented the monetary benefits such as pensions and unemployment. The indirect benefits, such as hospital, medical, and maternity, increased by £719,985. Universal superannuation in its first year cost £240,3.86, and all annuitants will now be receiving an additional £2 10s per annum. One decrease is shown in the accounts, unemployment benefit at £259,160 being less than in the pre : vious year to the extent of £125,336. All the figures on the revenue side also show great expansion. Social security charge, penalties, and registration fees rose to £10,741.864, an increase of £1,212.170. However, as this did not overtake the rise in expenditure, the customary contribution from general taxation, £1,000,000 in the financial year ended March, 1940, was increased* by a Treasury transfer of £3,200,000, and the fund now has an investment account with a credit of £1,700.000.
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Bibliographic details
Evening Star, Issue 23915, 19 June 1941, Page 7
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168SOCIAL SECURITY COST Evening Star, Issue 23915, 19 June 1941, Page 7
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