UNEMPLOYED FUND.

Pahiatua Herald, Volume XLII, Issue 12718, 8 August 1934, Page 5

UNEMPLOYED FUND.

HEALTHY STATE AT END OF JUNE CONCESSIONS LIKELY. Electric Telegraph—Pres9 Association WELLINGTON, Last Night. In the House of Representatives this afternoon Mr C. H. Chapman asked the Minister of Employment whether his attenion had been drawn to the fact that the Unemployment Fund on June 30, 1934, had a credit balance of £1,576,765, including imprests of £203,163 ; also that the receipts of the first three months ended June 30, 1934, totalled £1,502,137, while the payments for the same period were only £546.889, and whether in view of these facts he proposed to (a) increase the payments to men on relief; (b) increase the payments to local bodies for supervision; (e) reduce the wages tax.

Replying to both questions, the Minister said that the figures quoted showed the actual receipts and payments of the Unemployment Fund, but to o;ain a true indication of the financial position of the fund at any given date it was necessary to bring into account outstanding commitments and exclude revenue iiaid in advance.

4 ‘Owing to the method of distribution of relief through local bodies,” said the Minister, “it will be appreciated that there is always upwards of £300,000 to- £400,000 required to meet expenditure incurred, but not yet brought to charge. Another point which must not be lost sight of is that the two months ended June 30 were the heaviest two months of the year from the point of view of collection of unemployment tax

The balance in the fund at June 30 is represented by (1) cash, (2) imprests outstanding. The amount of the imprests outstanding should be added to the expenditure, as this figure represents amounts which have actually been expended, but are awaiting dissection and charging to the various authorities.

“The actual cash in the fund at June 30 was £1,372.534. Against this cash balance must be set off revenue received in advance, approximately £300,000. and outstanding commitments to June 30, of approximately £400,000, leaving a- balance of approximately £672,000. “While this may -appear to he a large balance ,it must be remembered from June onwards the expenditure from the fund is particularly 5 and, with the re-introduction of the building scheme, the increase in sustenance rates, reduction in the general unemployment levy for relief workers, and further concessions and exemptions which are at present under consideration, the balance in the fund is not considered too large. ’ ’