HC Deb 05 August 1924 vol 176 c2742
50. Mr. REMER

asked the Chancellor of the Exchequer whether the Treasury is assisting the New Zealand Government in the development of the Arapuni power scheme; whether he is aware that, under the contract placed with a firm in this country, a foreign sub-contractor will benefit to the extent of £200,000 worth of electrical equipment which might have been placed in this country; and whether he will take steps to ensure that British credit shall not be used to the advantage of foreign manufacturers at the expense of British firms?


I understand that the Government of New Zealand have been considering an application for a grant under Section 2 of the Trade Facilities Act, 1924, in connection with this scheme, but no application has yet been received by His Majesty's Government. Grants under that section can be made only in respect of expenditure in this country, and before making them the Treasury must be satisfied, inter alia, that the proceeds of the loan are to be applied in a manner calculated to promote employment in the United Kingdom.