SURPLUS RESERVES
UNEMPLOYMENT FUND POSITION. MINISTER MAKES EXPLANATION. By Telegraph—Press Association. Wellingtdn, Nov. 10. Mr. C. H. Chapman (Lab., Wellington North) asked the Minister of Employment in the House of Representatives this morning whether in view of the fact that at September 30, 1934, tire balance to credit in the unemployment fund amounted to £1,821,953 sterling he would take immediate steps to increase the payments to unemployed. The Hon. J. A. Young, acting-Minister of Employment, in reply said that while the cash balance in the fund was as stated, the true balance after deducting liabilities incurred but not paid was approximately only £460,000. That- represented only about five weeks’ reserve of allocations. It would therefore be appreciated that the board had not the surplus reserves available to be transferred which Mr. Chapman quoted.
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Bibliographic details
Taranaki Daily News, 13 November 1934, Page 5
Word Count
133SURPLUS RESERVES Taranaki Daily News, 13 November 1934, Page 5
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