§ Lord BARNBYasked Her Majesty's Government:
When they are contemplating reasonable protection for investors by initiating 265WA legislation requiring public companies' annual reports to carry, by footnote, a percentage figure indicating the degree to which profit results have been affected by the debasement of the currency since March 1965.
Lord ORAMThe Government do not intend to introduce such a requirement. Since 1976 the Stock Exchange has asked public listed companies to include in their annual reports some information about the effects of inflation on results, measured in terms of current cost accounting, and have supported the interim recommendations on inflation accounting, published by the Accounting Standards Committee, which are to be implemented with effect from 1st January 1978.