§ 22. Mr. Arnoldasked the Secretary of State for Industry what information he has on the profitability of British industry over the past 12 months; and what estimate he has made of the relevant figures for 1977.
§ Mr. VarleyThe latest available estimate of the rate of return at replacement cost earned by industrial and commercial companies, of about 4 per cent., relates to 1975 and was given to the hon. Member for Gosport (Mr. Viggers) on 13th December. Such data as are now available for the first three-quarters of 1976 suggest a slightly lower rate of return in that period. It is not the practice to publish forecasts, but I expect a substantial increase as exports and output grow.