§ 3. Sir J. D. REESasked the Secretary of State for Foreign Affairs, what steps His Majesty's Government is taking to safeguard British interests in the valley of the Yangtse where, in view of the financial activity of other Powers, no other than financial action can be effectual in this behalf?
§ The UNDER-SECRETARY of STATE for FOREIGN AFFAIRS (Mr. Acland)As I informed the hon. Member on the 8th instant, His Majesty's Government are fully alive to the necessity of safeguarding British interests in the Yangtse Valley. They are taking all possible steps to that end, but if the hon. Member suggests that His Majesty's Government should themselves advance money for this object, such action is not contemplated especially as there are British firms which are ready to take up projects which are properly secured and offer a fair profit.
§ Sir J. D. REESMay I ask whether British firms are not now prejudiced by the fact that other Governments are assisting their nationals, and what steps the Government can take other than financial?
§ Mr. ACLANDWe do not propose to finance doubtful propositions in the Yangtse Valley or anywhere else; and, if a concession is not worth taking up on its own merits, it is not worth our financing it when other people are not doing so.