HC Deb 26 November 1953 vol 521 cc84-5W
109. Sir R. Acland

asked the Secretary of State for the Colonies whether he will give a list of the projects referred to in paragraph 23 of the White Paper, British Guiana, Suspension of the Constitution, Command Paper No. 8980, in respect of which an estimated total of £10 million of overseas capital had been invested in the Colony over a period of five years, stating the amount of employment involved and how much of the capital has been expended; giving the dates of expenditure and particulars of the projects; and the amount of capital found

OVERSEAS INVESTMENT IN BRITISH GUIANA, 1948–1952
(in million B.W.I, dollars, at $4.80=£1)
Description 1948 1949 1950 1951 Totals 1948–1951 1952
A Investment by non-residents in:
(1) Sugar … … 5.5 6.3 4.1 5.2 21.1 16.0 (estimate)
(2) Bauxite … … 4.2 0.1 0.4 10.0 14.7
(3) Gold, etc … … 1.7 1.3 1.6 0.8 5.4
(4) Other industries … 0.8 2.5 2.5 2.6 8.4
Total A … … 12.2 10.2 8.6 18.6 49.6
B Investment by Government abroad (minus), net … -2.7 +1.5 +2.0 +2.8 +3.6
C Investment of Currency Board and commercial banks abroad (minus), net -1.4 +1.5 -0.6 -4.2 -4.7
A to C Net investment by non-residents in British Guiana 8.1 13.2 10.0 17.2 48.5
D Colonial Development and Welfare Grants from H.M.G. … … 2.2 1.4 1.1 1.2 5.9 2.3
Total net inflow of overseas funds, A plus B plus C plus D 10.3 14.6 11.1 18.4 54.4 18.3 (estimate)

Figures of the effects of development expenditure on employment are not available but employment has risen by between 20 and 25 per cent. in the period 1946 to mid-1952. The sums given were all expended in the years stated.