HC Deb 14 February 1922 vol 150 cc860-1W
Major GLYN

asked the Secretary of State for the Colonies whether he has considered a scheme, submitted for his approval, whereby British private capital would be encouraged to aid in the necessary development of various Crown Colonies and Protectorates in carrying out works that, in the opinion of the local governments concerned, are essential for the development of trade and commerce in these territories, the decision as to which schemes be given preference being decided by the British Governments up to a total capital of £25,000,000, in return for which the Government would guarantee interest, and in conjunction with the local governments provide adequate securities; and, if this scheme be not approved, on what grounds is it rejected?


Various schemes have been brought to my notice involving a guarantee of capital or interest by His Majesty's Government, but no definite scheme of the nature suggested has been submitted.