§ Sir T. Lowasked the Chancellor of the Exchequer what he estimates to have been the effect of the exercise of Treasury consent under the Exchange Control Act, 1947, on the establishment in the United Kingdom of undertakings owned by non-residents.
Mr. AmoryThe exercise of Treasury consent under the Exchange Control Act has in the past tended to deter some kinds of foreign investment in this country. Permission under this Act will in future be given for the establishment of any new enterprise here by non-residents. I144W would like to take this opportunity of emphasising the welcome we extend to the non-resident investor.