§ Lord Shore of Stepney asked Her Majesty's Government:
§ Whether the recently reported fall in the rate of return of manufacturing companies to 6 per cent, the lowest rate of return since the first quarter of 1993, causes them concern; to what main causes they attribute the fall; and what actions, if any, they intend to take to raise the profitability of manufacturing companies. [HL4273]
92WA§ The Minister for Science, Department of Trade and Industry (Lord Sainsbury of Turville)We acknowledge the difficulties facing manufacturers, due to the weakness of the euro. But we note that, although low, profitability is above its long-run average and many industries and companies have made substantial productivity improvements. We are assisting manufacturing industry to improve its long-term prospects by providing a stable macro-economic framework and by pursuing policies that help firms to innovate and grow.