EXPLANATION WANTED

Rotorua Morning Post, Volume 2, Issue 301, 15 August 1932, Page 5

EXPLANATION WANTED

(Press. Assn.—

LARGE CREDIT BALANCE " IN' UNEMPLOYMENT FUNDS

-By Telegraph — Copyright).

WELLINGTON, Saturday. The figures appearing in the quarter's accounts setting out the position of the unemployment fund are described by Mr. C. H. Chapman, M.P., as so startling as to he incredible, and calling for a Ministerial explanation. According to the "Gazette" of August 4, he says, the balance of the fund at June 30 was £987,277, or over ten times the balance at June, 30, 1931. The figures showed that the unemployed fund cash balance at the latter date was £69,115. By the beginning of April last it had increased to £184,966. During the three months of the current financial year the -reeeipts shown were £109,004 from the levy, £833,329 from the emergency charge, and £211 from fines, making a total of £942,645. The grand total of reeeipts was £1,127,511. Turning to the expenditure side of the account, Mr. Chapman pointed out that the amount showTn as paid out during April, May and June of this year, £138,213, was much less than for the corresponding period last year, £251,280. "It is rather remarkable," he said, "that during the 3d in the pound taxation period last year the expenditure was practically double what it has been during the same period this year, with the tax irtcreased to 1/- in the pound."