§ Mr. FlightTo ask the Chancellor of the Exchequer what assumptions have been used to form the expectation in paragraph 2.44 of the pre-Budget Report 2002 that financial company profits will return to trend in the medium term. [105321]
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§ Ruth KellyFinancial company profits have been depressed by the downturn in international capital markets and global economic uncertainty. However, there is no reason to expect these shortfalls to be permanent, and profits are expected to return towards their medium-term trends as recovery in the world economy becomes more firmly established and gathers pace.