§ Mr. Austin Mitchellasked the Secretary of State for Industry whether he will bring up to date the information on the profits of manufacturing industry published in the Official Report in response to a written question from the hon. Member for Grimsby on 11 February.
§ Mr. David MitchellMore recent information is not available from the analysis of company accounts, on which the answer of 11 February 1980 was based. An alternative series for pre-tax gross trading profits of manufacturing companies is available from the national accounts, and recent figures are given below. The figures are not comparable with the company account series, in particular because they relate to companies of all sizes whose main activity is manufacturing and they include only profits arising in the United Kingdom. Nor are the figures below any indication of real profitability (note*)
Manufacturing companies' gross trading profits* £ million 1975 8,009 1976 9,830 1977 10,983 1978 11,948 1979 13,948 * before allowing for stock appreciation, capital consumption, interest and tax payments.