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Level Of Profits (White Paper)

Volume 465: debated on Thursday 2 June 1949

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asked the Chancellor of the Exchequer whether he will publish a White Paper giving particulars of the level of profits made during the years 1946, 1947 and 1948, respectively, by all such undertakings as have a capital value of £100,000 or more.

In view of the fact that since the Prime Minister made his appeal to both sides of industry headlines have appeared in the Press indicating that every kind of trade union is making a request for higher wages, would it not be in the nature of redressing the balance to make this information also available.

General information about the level of profits year by year is given in the National Income White Paper. That is the best form of making it available and the most illuminating from the point of view of the public.

Is it not a fact that wages have risen three times as much as profits during the period under review?

I do not think so. There has also been a rise in the productivity of labour.

Is not that one of the reasons why we should know what are the profits, so that we can compare them with the rising wages?

Is it not the case that whereas dividends are declared only once a year, wages have risen as often as once a month.