NATIONAL INSURANCE FUND

That this House acknowledges the latest report by the Government Actuary's Department showing that the balance held in the National Insurance Fund has been rising by over two and a quarter times that of expenditure, and has now reached a record-breaking £46 billion; recognises that by 2012-13 the balance is forecast to reach £114 billion, the equivalent of 136 per cent. of expenditure; expresses concern that this is £95 billion more than the 16.7 per cent. surplus balance recommended for fiscal management; and calls on the Government to use this excessive balance substantially to raise the basic state pension for all men and women.