HC Deb 05 May 1955 vol 540 c1882
22. Mr. Jay

asked the Chancellor of the Exchequer to what extent the total of profits in the year ending 31st March, 1955, exceeded that in the corresponding previous year.

The Economic Secretary to the Treasury (Sir Edward Boyle)

No official estimates of profits are available except for calendar years. As stated in the Economic Survey 1955, paragraph 55, gross trading profits of companies together with the trading surpluses of public corporations were 7½ per cent. or £202 million higher in 1954 than in 1953.

Mr. Jay

Is this steady increase of profits what the Conservative Party Manifesto meant when it said. The future beckons with a golden finger"?

Sir E. Boyle

I think this steady increase in profits is a very good thing. So did the right hon. Gentleman's right hon. Friend the Member for Leeds, South (Mr. Gaitskell) when he introduced his Budget in 1951.