§ Mr. JackTo ask the Chancellor of the Exchequer what is his estimate of the increase in manufacturing profitability during the latest full year for which figures are available.
§ Mr. Norman LamontThe latest full-year estimate of manufacturing companies' profitability, as indicated by the net rate of return on capital employed, is for 1987. Manufacturing profitability increased from 7.5 per cent., in 1986 to 9.2 per cent. in 1987. The level of manufacturing profitability in 1987 was the highest since 1969.