BRITISH UNEMPLOYED
THE INSURANCE FUND SURPLUS OF £50,000,000 (Received August 29, 5.5 p.m.) British Wireless RUGBY, August 28 The surplus in the unemployment insurance fund now totals £50,000,000. This has been built up by excess contributions over the sums paid out. The fund 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 1971. To apply any of the surplus now in hand to an earlier extinguishing of the debt, which is a point being considered by the Treasury, would require fresh legislation.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19370830.2.65
Bibliographic details
New Zealand Herald, Volume LXXIV, Issue 22820, 30 August 1937, Page 9
Word Count
125BRITISH UNEMPLOYED New Zealand Herald, Volume LXXIV, Issue 22820, 30 August 1937, Page 9
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.