§ Sir J. D. REESasked the Secretary of State for the Colonies whether the Government of the South African Union proposes to tax shares in and the results of industrial operations in South Africa held by persons outside the jurisdiction of the Union Government, including a large number of small investors in the gold industry scattered all over Europe; whether the result will be to drive capital away from South Africa and to make funds for the agricultural and industrial development of the Union difficult to obtain; and whether His Majesty's Government proposes to offer any advice on the subject to the Union Government?
Mr. HARCOURTI would refer to my replies to questions put by my hon. Friend the Member for Dumfriesshire on 30th April. The effect of such legislation is a matter of opinion. His Majesty's Government do not propose at present to offer any advice to the Union Government.