On Friday, March 21st, Miss B_ondfield issued a _ memorandum
in explanation of the Government's Bill for increasing the borrowing powers of the Unemploy- ment Fund from £40,000,000 to £50,000,000. The last Government fixed the maximum of borrowing at £40,000,000 and provided for that maximum to be reduced to £30,000,000 this year. Last November Miss Bondfield declared that she had dismissed any question of increasing the borrowing powers of the Fund, yet now we see the maximum which ought to have been £30,000,000 this year, going up to £50,000,000. It is possible to hope, however, that Miss Bondfield has set herself a safe limit and that she will be able to keep well within it. The new Unemployment Insurance Act must, of course, be allowed to work for some time before its effects can be exactly measured. Meanwhile we must confess to alarm at the significant statement that on March 17th there were registered as unemployed 38,700 boys and 42,300 girls.
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