§ 60. Mr. Osborneasked the Chancellor of the Exchequer how much per week on wages and salaries is represented by the net amount distributed as profits and dividends after allowing for all taxation; and what are the totals for these two groups for the last financial year.
§ Sir S. CrippsThe total payments of dividends and interest by companies and public enterprises in the calendar year 1949 (as shown in Table 16, item 13 of Cmd. 7933) was £783 million; this amount, when divided by the total number of wage and salary earners in 1949, gives a figure of 14s. 6d. per week. Of the £783 million a substantial proportion is paid out in tax by the recipients, but the amount of tax attributable to income from these sources cannot be determined. The total income received in the 782 form of wages and salaries (before tax) in 1949 was £6,530 million. Corresponding figures for the last financial year are not yet available.
§ Mr. OsborneCould the Chancellor tell the House whether the figure has increased, or decreased, since he told the T.U.C. at Margate that if all the profits that were distributed as profits and dividends were distributed to wage earners it would only represent 4d. in the pound? Has that figure been increased or decreased?
§ Sir S. CrippsPerhaps the hon. Member would put that question on the Paper, because I have not the earlier figures in mind.