§ Mr. Norman Lamontasked the Chancellor of the Exchequer what estimate he has made of the effect on growth of corporate profits in 1972–73 of the introduction of statutory controls over prices and incomes; and in which sectors he expects profits to increase as a result of these measures, and in which to diminish.
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§ Mr. NottAny estimate of the effect of statutory controls on profits, in aggregate and in particular sectors, must depend on how long the present standstill on increases in prices and incomes continues, and on the nature of the second stage policy.
§ Mr. Norman Lamontasked the Chancellor of the Exchequer, on the basis of his 5 per cent. growth forecast in gross national product for 1972–73, what proportion of gross national product he expects to be represented by profits at the end of the current financial year, and how far that estimate has been affected by the introduction of statutory control over prices and incomes.
§ Mr. NottIt is not customary to publish forecasts of profits. It is unlikely that the share of profits in gross domestic product will be greatly affected by statutory controls over prices and incomes during the period of standstill.