§ Mr. Beresford Craddock
asked the Secretary of State for the Colonies whether consideration has yet been given to the future of United Kingdom financial assistance for colonial development after the expiry of the present Colonial Development and Welfare Act on 31st March, 1960.
§ Mr. Lennox-Boyd
As the House knows, the present Colonial Development and Welfare Act expires on the 31st March, 1960. Her Majesty's Government are sure that it would be the wish of both sides of the House that we should continue to help Colonial Governments with finance for their development plans after that date. More detailed work will have to be done before Her Majesty's 117W Government can reach firm conclusions about the shape and content of future assistance.
I hope that it will be possible to introduce the necessary legislation during the 1958–59 Session and to provide in accordance with precedent for an overlap between the new and existing Acts. Meanwhile, I propose to tell Colonial Governments that they may proceed on the assumption that the period in which the £220 million provided under the Colonial Development and Welfare Acts of 1940–1955 may be spent will be extended by legislation beyond the 31st March. 1960.