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Tuesday, 16 August 1960

The National Welfare Fund Act 1952 requires an appropriation from Consolidated Revenue to the National Welfare Fund each year of an amount equal to expenditure from the Fund in that year. Accordingly, as expenditure from the Fund in 1960-61 is estimated to increase by £31,335,000, a corresponding increase is expected in the moneys received by the Fund from Consolidated Revenue. After taking account of an estimated increase of £22,000 in interest received from the investment of the balance in the Fund, total receipts of the National Welfare Fund in 1960-61 are estimated at £332,722,000, or £31,357,000 more than in 1959-60.

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