§ 3. Mr. Grimondasked the Chancellor of the Exchequer what British participation has so far been arranged either by investment or by the placing of contracts or supply of materials in the St. Lawrence Seaway project.
§ Mr. R. A. ButlerApproval has been given for a number of British contractors and civil engineering firms to establish subsidiaries in Canada, and they will, no doubt, tender for contracts when the opportunity arises. Up to the present time, I believe, only one contract has been offered, and this was awarded to a Canadian firm. With regard to investment, I would refer the hon. Member to the answer I gave to my hon. Friend the Member for Kidderminster (Mr. Nabarro) on 9th March this year.
§ Mr. GrimondCan the right hon. Gentleman tell us whether British firms are competing on equal terms with Canadian or American firms for contracts of this sort, or are they hindered by regulations of the Canadian or American Governments, or by restrictions which our own Government place upon them?
§ Mr. ButlerThe situation is rather complicated in regard to the actual rules in relation to investment, but I can give the hon. Member a separate answer, if he so desires.
§ Mr. NabarroIs not the best assurance the continuance of the present policy which, over the last three years, has resulted in Canadian investments by the United Kingdom multiplying themselves four or five times?
§ Mr. ButlerYes, Sir.