asked the Secretary of State for Industry if he will publish a list of the returns on invested capital, after Official Report a table showing shipbuilding production in the United Kingdom in every year since 1970 together with the percentage of world output this represents and the comparative figures for South Korea, Taiwan and Norway.
Following is the information:tax, of (
a) all industries and ( b) oil-based industries for each of the years 1968 to 1978.
The latest available estimates were published in an article "Companies' rate of return on capital employed 1960 to 1977" in Trade and Industry on 22nd September 1978—pages 675 to 679; see table 4 column 8. These estimates relate to large listed companies engaged in manufacturing, distribution and certain other services whose main activities are in the United Kingdom. Separate estimates for oil-based industries are not available.The ratios given in table 4 of the article are based on the book values in companies' accounts and do not allow for the effect of inflation on income and capital. They therefore do not give a true picture of the level or trend of "real" rates of return, that is adjusted for inflation. Real rates of return before tax were given in tables 1, 2 and 3 of the same article; the different sources and definitions for the figures are summarised in table 5 of the article.