§ Mr. Stephen O'Brien
To ask the Chancellor of the Exchequer how many businesses are sampled to calculate figures for The Profitability of UK Companies; and what proportion of these have a turnover of(a) less than £1 million, (b) £1–20 million, (c) £20–50 million, (d) £50–100 million and (e) more than £100 million. [1572191
§ Ruth Kelly
The information requested falls within the responsibility of the National Statistician, who has been asked to reply.
Letter from Colin Mowl to Mr. Stephen O'Brien, dated 1 March 2004:
The National Statistician has been asked to reply to your Parliamentary Question on how many businesses are sampled to calculate figures for The Profitability of UK Companies; and what proportion of these have a turnover of: (a) less than £1 million; (b) £1–20 million; (c) £20–50 million; (d) £50–100 million and (e) more than £100 million. I am replying in his absence. (157219)
The data published in the First Release Profitability of UK Companies' is from annual benchmark data based on tax returns provided by the Inland Revenue two years in arrears. Growth rates derived from the Quarterly Profit Inquiry are then applied to this data with the results reported in the above release.
The number of companies sampled for the Quarterly Profits Inquiry for the fourth quarter of 2003 was 1,607. Of these for the year 2002:5.8 per cent. had a turnover of less than £1 million;35.5 per cent. had a turnover of between £1 million and £19,999,999;11.3 per cent. had a turnover of between £20 million and £49,999,999;8.9 per cent. had a turnover of between £50 million and £99,999,999;38.5 per cent. had a turnover of over £100 million.
The sample selection for the Quarterly Profit Inquiry is based on number of employees and normally consists of between sixteen hundred and seventeen hundred companies. Respondents are not asked to supply data on turnover for the Quarterly Profits Inquiry but information on this can be obtained from the Inter Departmental Business Register.