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National Insurance Fund (Balances)

Volume 463: debated on Tuesday 12 April 1949

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asked the Minister of National Insurance if, in view of the fact that for the years ending 31st March, 1949, 1950 and 1951 the amounts to be held by the National Insurance Fund are £2 million, £5 million and £6 million, respectively, he will say what increases are anticipated up to 1955; and how much of the working balance has been spent already.

The Government Actuary's Report on the Financial Provisions of the National Insurance Bill, 1946 (Cmd. 6730), gave in Table IX the estimated balances on the National Insurance Fund at the end of each financial year from March, 1948, to March, 1955. Following amendments made in the course of the passage of the Bill the Government Actuary revised these estimates. The following table shows the amended figures:

Date (31st March)Estimated balance of Fund (£million)
The answer to the second part of the Question is "None."