HC Deb 24 November 1954 vol 533 c1235
17. Mr. Fenner Brockway

asked the Secretary of State for Foreign Affairs how the British delegate on the Political Committee of the United Nations voted on the proposal that non-profit-yielding investment in underdeveloped territories should be made available through a special United Nations fund for economic development.

Lord John Hope

A resolution on the proposal for a special United Nations fund for economic development was adopted unanimously on the 16th of November in the Economic Committee of the General Assembly. The resolution provides for the preparation of a fresh report on the possible forms and functions of the proposed fund.

Mr. Brockway

In view of the fact that this country is spending over £1,963 million on defence, and approximately £120 million on world betterment, will the hon. Gentleman take steps to increase the contribution which this country is ready to make through this fund?

Lord John Hope

That cannot be done at the moment. The fact is that none of the major potential contributors, including the United States and Canada, is prepared to promise further financial support at the present time.

Mr. A. Henderson

Can we take it that it is not the policy of Her Majesty's Government to wait until we have secured a world disarmament agreement before we take action under this special United Nations fund?

Lord John Hope

I think that whatever we wait for we ought at least to wait for the report.