LARGE SURPLUS
BRITISH INSURANCE FUND
TO HELP UNEMPLOYED
METHOD OF UTILISATION. (United Press Association—By Electric Telegraph.—Copyright.) (British Official Wireless.) Received August 31, 8.5 a.m. RUGBY, Aug. 27. The Unemployment Insurance Fund surplus is now £50,000,000. This surplus has been built up by an excess of contributions over the sums paid out. It has increased by more than £12,000,000 in the past eight months. The debt on the fund incurred during the depression years now stands at £ 103,980,000. When it was funded a statutory debt charge of £5,000,000 a year, was arranged, and at the present rate of redemption the debt will be redeemed by 19/i. To apply any of the surplus now in hand to earlier extinguishing of the debt, which is a point being considered by the Treasury, would require fresh legislation.
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Bibliographic details
Manawatu Standard, Volume LVII, Issue 231, 30 August 1937, Page 7
Word Count
133LARGE SURPLUS Manawatu Standard, Volume LVII, Issue 231, 30 August 1937, Page 7
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