§ 9. Mr. Sydney Irvingasked the Chancellor of the Exchequer what was the percentage change in gross trading profits in 1962 as against 1961; and how this compared with dividend distribution for these periods.
§ Mr. MaudlingFull information is not yet available but, on the basis of preliminary estimates, gross trading profits 1111 of companies in 1962 were about one-half of 1 per cent. lower than in 1961. Payments of ordinary dividends are estimated to have been about 1½ per cent, higher in 1962 than in 1961.
§ Mr. IrvineIn view of the figures, does the right hon. Gentleman think that this section of the public, the shareholders, was expecting the same sort of sacrifice as the Government were demanding from other sections of the public? Does not the right hon. Gentleman realise that he will never get a full or united effort from the country, which is necessary for our survival, unless both sacrifices and awards are more equitably shared than is the case now?
§ Mr. MaudlingI think that the hon. Gentleman must have prepared that supplementary question before he heard my Answer.
§ Sir C. OsborneWill my right hon. Friend give the figure for the increase in wages and salaries between the two years, which would, I think, show that shareholders got a far smaller increase?
§ Mr. MaudlingI think that for a comparison one wants a pretty wide range of figures. If asked the question, I shall be glad to give it.