Written question asked by David Stewart (Labour) on Thursday, 16 May 2002, in the House of Commons. It was due for an answer on Thursday, 23 May 2002. It was answered by Baroness Primarolo (Labour) on Thursday, 23 May 2002 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if he will make a statement on the size of the usable surplus in the National Insurance Fund; and what restrictions there are on the future use of the Fund. - Including ref to the report of the Government Actuary (Cm 5383).

Answer: Mr. David Stewart: To ask the Chancellor of the Exchequer if he will make a statement on the size of the usable surplus in the national insurance fund; and what restrictions there are on the future use of the fund. [58204] Dawn Primarolo: I refer the hon. Member to the report of the Government Actuary (Cm 5383) published in February 2002. The report estimates the receipts of and payments from the national insurance fund for the years 2001-02 and 2002-03 and the balance in the fund at the start and end of each year. Under the Social Security Administration Act 1992 the national insurance fund can only be spent on contributory benefits and related expenditure, and certain redundancy payments. Any surplus is invested in Government securities.

Secondary information