§ Mr. Greenwayasked the Chancellor of the Exchequer if he will give details of the profit or loss of Giro since its foundation.
§ Mr. Michael MarshallI have been asked to reply.
The information, which is given in the relevant editions of the Post Office report and accounts, for the years since National Girobank's inception in October 1968, is as follows:
Profit (Loss) £ million 1968–69 (1.7) 1969–70 (6.0) 1970–71 (6.0) 1971–72 (6.4) 1972–73 (5.1) 1973–74 (6.5) 1974–75 0.1 1975–76 0.8 1976–77 2.1 1977–78 2.8 1978–79 4.6 Figures from 1975–76 onwards are before payment of tax and dividend on public dividend capital.