§ 72. Major GLYNasked the Secretary of State for the Colonies what steps have been taken to encourage British capital to be invested in the necessary development of British Crown Colonies and Protectorates in such manner as to give employment at home and to increase the market for British goods overseas as a result of the prosperity consequent upon such development; and whether it is due to the absence of the necessary guarantee as to security by the British Government backing the proposals of the local governments for approved schemes that the investment of private capital is discouraged?
§ Mr. CHURCHILLAll schemes submitted to me by local governments or private individuals are carefully considered. In particular, the Colonies and Protectorates are being encouraged to place in this country orders for machinery and other supplies required for development. I have had submitted to me development proposals for the investment of private capital involving a guarantee by His Majesty's Government, and the applicants have been advised to submit these schemes to the Trade Facilities Advisory Committee, whose province it is to consider them.