§ 46. Mr. Hector Hughesasked the Prime Minister if, as a result of the Commonwealth Prime Ministers' Conference in London just concluded, he will formulate his policy relating to Commonwealth and Empire investment, development, and trade; and if he will indicate the nature of the investments, developments, and trades affected and the extent of the agreed participation in each by the respective members of the Commonwealth.
§ The Prime MinisterI would refer the hon. and learned Member to the communiqué issued at the end of the recent meeting of Commonwealth Prime Ministers. As there stated, the United Kingdom will continue to play its leading role in furthering economic development in the countries of the Commonwealth. We shall also continue to seek to expand our trade with other Commonwealth countries to the maximum possible extent. As regards investment, we hope to publish a White Paper shortly reviewing the position.
§ Mr. HughesDoes the Prime Minister agree that in these important matters the solidarity of the Commonwealth should be the primary consideration?
§ The Prime MinisterYes, Sir.
Mr. H. WilsonIs the right hon. Gentleman aware of the very rapidly changing nature of the sterling area, particularly as regards the sterling balances of Ghana, Malaya and other areas, and is he also aware that in the country there is more than a suspicion that the Government spokesmen at this Conference were more active in selling the idea of their European Free Trade Area proposals than in developing new and dynamic Commonwealth trade policies to deal with this very serious position in the sterling area?
§ The Prime MinisterNo, Sir. I do not think that is a fair picture of what took place in the Commonwealth Conference, and it is certainly not the picture which has been given by those who attended it.
§ Mr. GrimondCan the right hon. Gentleman say if the recent restriction on the acquisition of Canadian securities was discussed with the Canadian Prime Minister?
§ The Prime MinisterI should like notice of that.