HC Deb 01 December 1953 vol 521 cc948-9
50. Mr. Grimond

asked the Chancellor of the Exchequer what arrangements are being made to allow British capital to participate in the St. Lawrence Seaway and Vancouver Island schemes.

Mr. R. A. Butler

I am anxious to facilitate British participation in these schemes and will do my best to provide dollars for any suitable project.

Mr. Grimond

Has the Chancellor received any requests so far for the release of dollars for either of these schemes?

Mr. Butler

I do not think I have actually received requests but we know that there are people interested.

Mr. Woodburn

Is the Chancellor aware that these schemes are closely bound up with the development of the ironfields in Labrador, that the shortest journey to them is from Glasgow, and that it would be a great opportunity if we could get Labrador ore by having an exchange of trade, we buying their iron and they buying our machinery?

Mr. Butler

Yes, I am aware of the possibility to which the right hon. Gentleman calls attention.