Government Aid and Private Investment

HC Deb 30 November 1965 vol 721 cc1215-6

15. Mr. Onslow

asked the Minister of Overseas Development what studies her Department has commissioned of the relative value to less-developed countries of governmental aid and private investment.

Mrs. Castle

I have not commissioned any studies exactly addressed to the question posed by the hon. Member, since I believe that Government aid and private investment are complementary and not competitive.

Mr. Onslow

While not accepting the line of argument advanced by the right hon. Lady, may I ask if she would agree that it would be more useful if she made representation to the Chancellor of the Exchequer to get an increase in the capital available for British private investment overseas?

Mrs. Castle

I refer the hon. Member to the Chancellor's own references to this matter in the House when he said that he would continue to watch the position in regard to private investment in developing countries.