§ 61. Sir T. Beamishasked the First Secretary of State and Secretary of State 166W for Economic Affairs by what percentage gross and net-after-tax dividend payments in the first and second quarter of 1965, shown separately, on ordinary and preference shares exceeded those for the same periods in 1964 after relating all figures to capital employed and to the number of companies reporting; and by what percentage this differs from his estimate of the gross figure for the first quarter.
§ Mr. George BrownA larger number of companies paid out dividends in the first quarter of 1965 than in the same period a year earlier. One reason for this was presumably because many of them wished to reduce their tax liability and that of their shareholders under the proposed new taxes. It is not possible to say how much of the increase of 28 per cent. in dividend payments, which was the same both before and after tax, was due to this or to increases in capital employed. Figures for the second quarter are not yet available.