HC Deb 21 October 1954 vol 531 cc1363-4
19. Mr. Jay

asked the Chancellor of the Exchequer the percentage change in profits and dividends, respectively, during 1954 compared with 1953.

Mr. Maudling

No figures can yet be given of profits earned in 1954. As regards dividends, the available reports indicate that the dividends declared during the first nine months of 1954 represented a gross return on invested capital of about 5.9 per cent. compared with about 5.4 per cent. for the same period of 1953.

Mr. Jay

Is the Minister aware that according to the "Financial Times" gross dividends this year have been increasing four times the rate of wages? Does he think that that situation, together with the high capital profits of the Stock Exchange, is helpful to industrial peace?

Mr. Maudling

My answer was based on the "Financial Times" statistics, and, I think, puts them in their right perspective.