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Mr. Milburn
To ask the Chancellor of the Exchequer, pursuant to his answer of 9 June, Official Report, column 258, what was the total turnover, profits and corporation tax liability of the largest 100 United Kingdom companies in each year since 1987 measured in (a) current prices and (b) 1987 prices.
Mr. Dorrell
[holding answer 22 June 1993]: Latest readily available figures covering five years for turnover, profit before tax, and corporation tax liability of the 100 largest United Kingdom companies and company groups, based on turnover in their latest accounts, are as follows:
| At current prices | |||
| £ billion | |||
| Turnover | Profit before tax1 | Corporation tax liability2 | |
| 1987 | 3— | 3— | 5·2 |
| 1988 | 360 | 34 | 5·2 |
| 1989 | 420 | 41 | 6·2 |
| 1990 | 490 | 36 | 5·8 |
| 1991 | 500 | 32 | 5·4 |
| 1992 | 510 | 30 | 4— |
| At constant 1987 prices | |||
| £ billion | |||
| Turnover | Profit before tax1 | Corporation tax liability2 | |
| 1987 | 3— | 3— | 5·2 |
| 1988 | 340 | 33 | 4·9 |
| 1989 | 370 | 37 | 5·5 |
| 1990 | 390 | 29 | 4·7 |
| 1991 | 380 | 25 | 4·1 |
| 1992 | 370 | 22 | 4— |
| 1 Worldwide activity reported in published accounts. | |||
| 2 After relief for foreign tax. | |||
| 3 Not readily available. | |||
| 4 Not yet available. | |||