HC Deb 24 January 1957 vol 563 cc382-4
32. Mr. Brockway

asked the Under-Secretary of State for Commonwealth Relations what arrangements are proposed by the United Kingdom Government to provide capital investment to territories which advance from colonial to sovereign status.

Mr. Alport

It is the policy of Her Majesty's Government to encourage in all practical ways the provision of capital from the United Kingdom, within the limits of the country's resources, for the development of the territories to which the hon. Member refers. The present channels for investment for this purpose were described by the then Minister of State for Colonial Affairs on 18th December during the Committee stage of the Ghana Independence Bill. It is clearly desirable that in the first place the fullest use should be made of these existing channels. But in accordance with the undertakings given to the House on 30th November, my right hon. Friend is at present consulting other Commonwealth Governments on the question whether any addition to them is desirable or practical.

Mr. Brockway

While thanking the hon. Gentleman for that Answer, may I ask him whether it would be possible to make any temporary arrangements in the case of Ghana, which will become independent within six weeks and is in great need of this kind of assistance; and whether he will expedite the whole of the investigation in view of the advance of Malaya, the West Indies and Nigeria towards independence?

Mr. Alport

My noble Friend is, as I have said, in consultation with other Governments with regard to this matter. So far as Ghana is concerned, the right hon. Gentleman the then Minister of State for Colonial Affairs gave a certain undertaking in regard to the existing operation of the governmental agencies in Ghana, which will continue, and further help on that will be considered with great sympathy.

Mr. J. Griffiths

Is the Minister aware that, during a Motion moved by an hon. Member on his side of the House, there was agreement on both sides that the Government should be pressed to make such changes as will enable the Colonial Development Corporation to continue to function in those territories after they have attained independence? May I ask whether he is considering that matter?

Mr. Alport

My noble Friend is very well aware of the proposals put forward and considered during that debate, and they are being considered. The initiative has been taken to consult other Commonwealth Governments as to whether they have any views on this important subject, which I am sure the right hon. Gentleman would agree should, as far as possible, be on a full Commonwealth basis.

Mr. Tilney

Would my hon. Friend agree that one of the best methods of obtaining capital for under-developed countries is to enable private enterprise to receive some form of taxation reduction if it invests its capital in those territories?

Mr. Alport

That is a matter for my right hon. Friend the Chancellor of the Exchequer.