The Rt. Hon. Sir John Major KG CH

Prime Minister of Great Britain and Northern Ireland 1990-1997

Chief Secretary (1987-1989)

Mr Major’s Written Parliamentary Answer on Company Profitability – 9 May 1988

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Below is the text of Mr Major’s written Parliamentary Answer on Company Profitability on 9th May 1988.

Mr. Andrew Mitchell To ask the Chancellor of the Exchequer what is his latest estimate of the rise in company profitability in 1987.

Mr. Major The profitability of non-North sea industrial and commercial companies is provisionally estimated to have risen by 1.5 percentage points between 1986 and 1987, to 10.5 per cent. – the highest level for about 20 years.