§ Mr. McKayasked the Chancellor of the Exchequer the reason for the conflict between the figures given in Table 105W 293 of the Annual Abstract of Statistics, 1954, and the figures given in Table 21 of the Economic Survey for 1954 relating to undistributed profits after tax.
§ Mr. MaudlingThere are two differences in method of presentation between the two tables; first, the table in the Economic Survey, as shown in a footnote, excludes banking, insurance and other financial institutions, which are included in the table in the Annual Abstract of Statistics; secondly, the table in the Economic Survey shows undistributed income after actual payments of taxes and dividends during each year, whereas the table in the Annual Abstract shows undistributed income after provision for tax and dividends arising from the income of each year. In addition, the table in the Economic Survey incorporates more recent information as a result of which the estimates of undistributed income in 1951 to 1953, after provision for tax, have been somewhat increased since the Annual Abstract was published.