§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what was the share of profits in domestic income, excluding North Sea profits and net of stock appreciation, in each of the following years: 1960, 1968, 1970, 1973, 1975, 1976, 1977 and 1978.
§ Mr. BiffenFollowing is the information:
COMPANY PROFITS (EXCLUDING NORTH SEA OIL AND GAS)* AS A PERCENTAGE OF GROSS DOMESTIC PRODUCT (INCOME BASED).† 1960 16.1 1968 12.9 1970 11.6 1973 10.4 1975 6.2 1976 6.8 1977 8.1 1978 8.3 * After deducting stock appreciation. † Excluding gross trading profits of North Sea oil and gas. SOURCE: Derived from data published in National income and Expenditure 1967–77 and Economic Trends, April 1979.