§ Mr. Hordernasked the Chancellor of the Exchequer what proportion of the gross domestic product was made up from company profits in the year 1964, in the year 1970, and in the latest available period.
§ Mr. Patrick JenkinAs a proportion of total domestic income, the gross trading profits of companies—before providing for depreciation and stock appreciation—are estimated to have been 15.6 per cent. in 1964, 11.7 per cent. in 1970 and 12.0 per cent. in the first three quarters of 1971.The figure for 1964 includes the profits of the iron and steel companies subsequently nationalised, while that for 1971 includes the effect of recording S.E.T. on a cash basis which increased the third quarter figures. If the effect of S.E.T. is excluded, the figure for the first three quarters of 1971 would be 11.7 per cent.