HC Deb 28 July 1989 vol 157 cc1137-9W
Mr. Austin Mitchell

To ask the Chancellor of the Exchequer whether he will publish in theOfficial Report a table showing for manufacturing, other industrial and commercial companies, and the financial sector the same information as given in table 14.3 of the "Annual Abstract of Statistics 1989" for 1979 and 1987; and if he will add a forecast for 1988.

Mr. Norman Lamont

Separate figures for manufacturing companies are not available. A subdivision of the corporate sector between financial and industrial and commercial (including manufacturing) for the years 1979 and 1987 is given in the tables. Definitive figures for 1988 are in the course of preparation and will be available in September 1989.

Table 1: Corporate sector appropriation account1: financial
1979 1987
£ million £ million
Income
Income arising in the United Kingdom
Gross trading profits of companies and trading surplus of public corporations
After deducting stock appreciation2 -1,856 -3,586
Stock appreciation
Total2 3 -1,856 -3,586
Rent and non-trading income 4 15,856 40,086
Total 14,000 36,500
Income from abroad5 1,375 6,534
Total income 15,375 43,034
Allocation of income
Dividend and interest payments4 6 9,660 27,415
Current transfers to charities from companies 9 33
Profits due abroad, net of United Kingdom tax 281 48
United Kingdom taxes on income 758 1,673
Royalties and licence fees on oil and gas production
Balance: undistributed income after taxation7 4,667 13,865

1979 1987
£ million £ million
Total 15,375 43,034

Table 2: Corporate sector appropriation account1: industrial and commercial
£ million
1979 1987
Income
Income arising in the United Kingdom
Gross trading profits of companies and trading surplus of public corporations
After deducting stock appreciation 28,818 71,421
Stock appreciation 8,061 4,384
Total3 36,879 75,805
Rent and non-trading income4 3,567 8,996
Total 40,446 84,801
Income from abroad5 5,722 11,506
Total income 46,168 96,307
Allocation of income
Dividends and interest payments4 6 11,842 25,479
Current transfers to charities from companies 42 152
Profits due abroad, net of United Kingdom tax 3,711 5,461
United Kingdom taxes on income 4,305 13,500
Royalties and licence fees on oil and gas production 531 1,151
Balance: undistributed income after taxation7 25,737 50,564
Total 46,168 96,307
1 Includes flows between the companies' sector and public corporations but excludes flows within the companies' sector.
2 This represents the contribution of financial enterprises in the corporate sector to the gross domestic product. It is the difference between bank charges, commissions, etc., on the one hand and management expenses of the other.

3Before providing for depreciation and stock appreciation.

4Financial sector figures include payments to and receipts from industrial and commercial sector. Industrial and commercial sector figures include payments to and receipts from financial sector.

5After deducting depreciation allowances but before providing for stock appreciation.

6Excludes dividends and debenture interest payments by United Kingdom subsidiaries to their overseas parents.

7Before providing for depreciation, stock appreciation and additions to tax and dividend reserves.