§ Mr. David Howellasked the Secretary of State for Industry what figures his Department has showing the approximate rate of return he expects industrial and commercial companies and large quoted companies in manufacturing industry to earn at current replacement costs after providing for stock appreciation, defining the rate of return as net trading income divided by net capital stock plus book value stocks, for 1974–75.
§ Mr. Clinton DavisI have been asked to reply.
Estimates of the rate of return are published only for calendar years. The latest available estimate of the rate of return as defined for industrial and commercial companies relates to 1974 and was 4 per cent. For the large listed companies in manufacturing industry the latest available estimate relates to 1973 and was 7 per cent. These estimates were published in Trade and Industry on 24th October 1975.