DETAILS

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as for social insurance. Each insured workerwould hold a Deferred Pay Card which would bestamped by the employer. For income-tax payersthe method would be the same as for income-tax.For incomes up to £750 a year the whole questionof deferred pay can be dealt with when con-sidering income-tax allowances. For surtax payersthe method would be the same as for surtax.Thus no new machinery either of assessment orof collection will be required,—a great advantagefor a war-time measure.

In the case of fluctuating earnings, the propor-tion of deferred pay appropriate to each payperiod would be withheld in the first instance.But this could be adjusted to the proportionappropriate to the average earnings at quarterlyor any other convenient intervals, since the cardwould carry on its face all the information requiredfor this purpose.

(6) The Depository for Deferred Pay. Consider-able choice could be allowed to the individual inwhat institution his deferred pay should bedeposited. He might choose his Friendly Society,his Trade Union , or any other body approved forthe purposes of Health Insurance; or, failing suchpreference, the Post Office Savings Bank. Thusthere would be an encouragement to the working-man's own institutions to take charge of hisresources for him, and, if desired, a considerabledegree of discretion could be allowed to such bodiesas to the conditions in which these resources couldbe released to the individual to meet his personalemergencies, as is proposed in the next chapter.