§ Mr. Austin MitchellTo 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 LamontSeparate 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.
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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
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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.