15. Mr. Edward M. Taylorasked the Minister of Overseas Development if he will restrict overseas aid to nations accepting and implementing equitable policies of taxation and respect for foreign investment within their territories.
§ Mr. PrenticeIn allocating aid funds I take account of all factors in the recipient country, particularly those which might affect economic development and hence the effectiveness of our aid.
Mr. TaylorWould the Minister agree that some of the nations receiving aid from us impose penal and savage rates of taxation on our investments? Would he be prepared to discuss with these nations a form of code of commercial conduct, to which all would subscribe?
§ Mr. PrenticeI do not want to make a general comment upon the taxation policies of a large number of other countries, but if the hon. Gentleman has a particular case that he would like to draw to my attention, I will study it.
§ Mr. BraineWill the right hon. Gentleman explain to the House why Great Britain is alone among the great trading nations in not concluding investment treaties with developing countries? What action has been taken about this and, if it is outside of his Department, will he undertake to have a talk with the President of the Board of Trade about it? It Is really anomalous.
§ factors are considered.
§ Following are the details:
§ Mr. PrenticeThe hon. Gentleman is quite clearly aware that it is a matter for the President of the Board of Trade, and he might care to put down a Question for my colleagues to answer.