§ Mr. Austin Mitchellasked the Chancellor of the Exchequer how the profits of the London clearing banks in 1979 compare with those for 1969, 1959 and 1949.
§ Mr. LawsonThe information requested is as follows:
Pre-tax profits of London clearing banks Actual Adjusted to 1979 prices £ million £ milllion 1979 1610 1610 1969 218 709 Pre-tax profits figures are not available for years prior to 1969.
§ Mr. Marlowasked the Chancellor of the Exchequer, at current rates of minimum lending rate, what will be the effective contribution of the United Kingdom to the European Economic Community Budget according to the Brussels formula at current prices, given that an excessive contribution will be paid to be followed by a refund.
§ Mr. LawsonThe precise timing of payments to the United Kingdom under the arrangements reached on 30 May remains to be decided. The timing of receipts under these arrangements is a separate matter from the contribution of own resources to the Community. There are no costs to which a rate of interest could be applied.