§ 78. Sir P. Macdonaldasked the Secretary of State for the Colonies whether he is aware that the gold contribution of West African Colonies towards our dollar deficit last year was approximately 600,000 ounces but that the industry is confident of its ability to achieve an annual capacity of at least 1,000,000 ounces if it is given reasonable encouragement; and what are the plans of his Department to enable the industry to increase its output in the near future.
Mr. Creech JonesThe importance of the gold industry in British West Africa is fully appreciated. As regards the second part of the Question, the system of gold taxation has recently been placed on a more scientific basis in the Gold Coast, which, as the House is aware, is the principal producer. One result of this is to reduce the total duty payable by the industry and, in particular, by the low and medium grade mines. Assistance is also being given to the mining companies to obtain the equipment which they need to increase production.