§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will bring up to date the figures for the pre-tax profitability of the London clearing banks as given in the reply to the hon. Member for Great Grimsby on 26 June 1980, Official Report, column 316, adjusted to 1985 prices.
§ Mr. Ian StewartThe information requested is as follows:
Pre-tax profits of London clearing banks: Actual Adjusted to 1985 prices £ million £ million 1985 2,570 2,570 1979 1,571 (1,610) 2,623 (2,688) 1969 212 (218) 1,154 (1,883) The figures give on 26 June 1980 aggregated the pre-lax profit of Barclays, Lloyds, Midland, National Westminster and Williams and Glyn's. The latter merged in the course of 1985 with the Royal Bank of Scotland. The bracketed figures above include Williams and Glyn's. Those outside the brackets relate to Barclays, Lloyds, Midlands and National Westminster only.