§ 39. Mr. Royleasked the Secretary of State for the Colonies to what extent the Colonial Development Corporation and its commercial partners contributed to the West Indies inter-island shipping services provided by s.s. "West Indian".
§ Mr. ProfumoThe Colonial Development Corporation and its partners formed the West Indies Navigation Company Limited—W.I.N.C.O.—with an issued share capital of £45,000. This company chartered the "West Indian" and operated the service. The C.D.C., in addition to providing one-third of the share capital, is under obligation to make loans to the company to meet certain specified outgoings; its contributions by loan, subject to final accounts, are expected to total some £155,000.
§ Mr. RoyleI am obliged for the figures and for that statement. Will the hon. Gentleman remember that on a previous occasion, in answer to a Question 604 by me, he paid a tribute to other organisations apart from the Colonial Development Corporation? When Parliament has established these organisations and companies, is it not a good thing that credit should be given to them for the work they are doing?
§ Mr. ProfumoI have no desire not to give credit where it is justified. I hope that the statement I have made today and on previous occasions will clear up the matter which the hon. Gentleman has in mind.