BORROWING POWERS
3.45 P.M. EDITION
TO MEET UNEMPLOYMENT. MINISTER’S STATEMENT. (United Press Association— By Electric Telegraph— Copyright). (British Official AVireless.) Received February 17, 1.50 p.m. RUGBY, Feb. 16. Moving in the House of Commons to increase the Unemployment Insurance Fund’s borrowing powers by twenty millions. Miss Margaret Bondfield admitted that it could not yet be assured that the peak of unemployment had been reached. The Insurance, Fund's debt is now--67 millions. The proposed new loan would be exliausted in July, unless unemployment were substantially tiecreased. Other countries, the Minister said, had worse unemployment. Germany, had 476,000; the United States, on a conservative estimate, had six millions totally and 44 millions part.ially unemployed. excluding agriculture. Instancing the displacement of labour by amalgamations and new machinery, Miss Bondfield pointed out that during the last half year dyeing amalgamations had thrown 1500 men out of work. Even the banks had installed machines enabling 86 women to do the work of 311 male clerks.
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Bibliographic details
Manawatu Standard, Volume LI, Issue 66, 17 February 1931, Page 2
Word Count
160BORROWING POWERS Manawatu Standard, Volume LI, Issue 66, 17 February 1931, Page 2
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