§ 30. Mr. Rupert Speirasked the Secretary of State for the Colonies what money has been advanced by the Colonial Development Corporation to the Tristan Exploration Company (Pty.) Limited; the dates and amounts of any such advances; how far any advances have been repaid; and what has been the net trading profit of the Tristan Exploration Company for its last four financial years.
§ Mr. LytteltonCapital of£130,000 was approved for this project in September, 1950. Details of advances to the Company and of the progress of the enterprise are matters for the Corporation.
§ Mr. SpeirIs the Minister satisfied that the taxpayer is getting good value for his money in this respect? Is not this Company, although it deals with fish, apt to become another Gambia poultry scheme?
§ Mr. LytteltonThe Corporation gets capital sanction from me, and afterwards it must be answerable for the use to which it puts it.