§ 19. Mr. Shepherdasked the Chancellor of the Exchequer the amount of British investment in Canada in the year 1951 and subsequent years.
§ The Economic Secretary to the Treasury (Mr. Nigel Birch)As the Answer contains a number of figures, I will, with permission, circulate it in the OFFICIAL REPORT.
§ Mr. ShepherdCan my right hon. Friend say whether investment in Canada has been increasing in recent years? Is it the desire of the Government to enable firms who want to invest in Canada to set up industries there to continue to do so?
§ Mr. BirchWe certainly wish to encourage direct investment in Canada to the extent we can afford. The Treasury is fairly liberal in allowing investment, especially where we can use our know-how and where there are good prospects.
§ Following is the Answer:
§ Figures published by the Canadian Government for 1951 to 1955 inclusive show that over these five years United Kingdom net direct long-term investment in Canada totalled nearly £125 million. For figures for individual years, I would refer my hon. Friend to my reply on 7th February to the hon. Member for Manchester, Blackley (Mr. E. Johnson).
§ Figures are not yet available for 1956 but preliminary data suggest that the long-term capital inflow from the United Kingdom in that year was at about twice its level in 1955.