Below is the text of Mr Major’s written Parliamentary Answer on Construction Company Earnings on 15th January 1990.
Sir John Stanley To ask the Chancellor of the Exchequer what was the average annual increase in the net earnings of construction companies between 1974 and 1979; and what has been the average annual increase since 1979.
Mr. Major Based on figures extracted from published accounts, the average annual increase in net income of large construction companies was 12.5 per cent. between accounting years 1974 and 1979 and 11.6 per cent. between accounting years 1979 and 1988. Net income is defined as gross trading profit plus other revenue income less depreciation. The underlying figures are published in the MA3 series of business monitors “Company Finance”.