The people's insurance / explained by the chancellor of the Exchequer, the Right Hon. David Lloyd George.

  • David Lloyd George
Date:
1912
Catalogue details

Licence: In copyright

Credit: The people's insurance / explained by the chancellor of the Exchequer, the Right Hon. David Lloyd George. Source: Wellcome Collection.

Provider: This material has been provided by The University of Glasgow Library. The original may be consulted at The University of Glasgow Library.

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    asking. You will get not los. a week, you will get more; that is to say, if your society is completely solvent. Everything depends upon that. If it is not, that is a different matter. But you will get 135. a week for 26 weeks and afterwards you will get not 55 but 65. 6d. a week. If your society is not absolutely solvent and if its funds are not altogether available you will reduce that amount by perhaps 15. a week, but you will get more. You will be paying less by lod. a month, and you will get more than you are getting now. That is the condition you will be in under this scheme. The State's and Friendly Societies' schemes compared Is there anybody here insured for 12s. a week? Well, I have something to say to you. You are paying roughly about 2s. ^d. or 2s. 4^d. a month. Well, if you have been pay- ing for about 25 years, what do you pay in future? You will pay your 4^. a week, i^. /\.d. a month; is. less a month, but you will get bigger bene- fits. You ought to get instead of 125. a week 145. a week; instead of 65. for your second period you will get 75. You will be paying less per month by 15., and you will be getting larger benefits in future. That is your con- dition. I worked it up to 155.; is there anybody insured for 155.? Well, I have a word to say to you. You are paying now per month 2s. gd. In future—mind you, on the assumption that you have been in your society for 25 years paying regularly—you will pay 15. 4d. a month. You will be pay- ing IS. 5^. a month less. What will you get? You will get 165. a week, and instead of 75. 6d. you ought to get 8s. a week, and you will get, of course, your death benefits if you have accurr j lated enough reserve, but you ncv not pay for those, and all you will paying is is. ^d. instead of 2s. gd. ' The minimum State Benefit act fee Again I warn you, it is all on tl| the) assumption that the societies are pefLcils fectly solvent, and the funds availablil] org and I can well understand friend.;|jes c societies saying, We will be a littinff. cautious at first, we will give a litt] less. But nothing will prevent youltmc getting for 15. 4^. a month—the 40 which I am charging—equal benefiff and even greater benefits if you havi ^ been in your society a regular contribuj tor for 25 years rsu; ■ 6 We are realising credit which you havefat created. What happens to the man who hasi been 20 years, 15 years, ten years ini membership? He will also get some thing, less of course, because his re^ serve is less, but what I want to point out to you is this—we are realising credit which you have created through your thrift or industry or foresight; we are giving you the full benefit of it, and we are adding something on the top of it. Local Health Committees I just want to say this one word. I am glad we are able to do something for those who are sick, for those who are out of work. I regret that I can- not to-day explain that portion, be- cause time will not permit, but the one thing in the scheme which I lay gieater stress upon is that we have got provision to prevent disease. We are setting up Local Health Committees, and do not you allow anybody to cajole