§ 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 for 1979.
§ Mr. Les HuckfieldThe latest avail-able estimate of the rate of return at replacement cost, that is real profitability, of industrial and commercial companies relates to 1977 and is 4½ per cent. Excluding North Sea oil and gas activities it is 4 per cent. Such data as are now available for the first half of 1978 suggest that real profitability over the past 12 months has been much the same as in 1977. It is not the practice to publish forecasts of rates of return.