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Redundancy Fund

Volume 774: debated on Monday 25 November 1968

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asked the Secretary of State for Employment and Productivity whether the Redundancy Fund is now moving into balance; and if she will give the figures up to the end of October and the anticipated figures to the end of the year.

Since the income of the Redundancy Fund was increased by the new rate of contributions which came into effect on 2nd September, 1968, income and expenditure have been approximately in balance. At the end of October the Fund had borrowed about £17 million, and, although precise estimation is difficult, the borrowing is expected to be about the same at the end of the year. The state of the Fund will, however, continue to be kept under close review.