HC Deb 25 July 1957 vol 574 cc73-4W
Mr. Ellis Smith

asked the Chancellor of the Exchequer what action he proposes to take on the formal suggestions made by the Prime Ministers of Canada and India regarding Commonwealth economic development and capital investment.

Mr. P. Thorneycroft

We shall have a further opportunity of discussing such matters at the meeting of Commonwealth Finance Ministers which is to take place at Ottawa in September.

Mr. Ellis Smith

asked the Chancellor of the Exchequer what has been the amount of British investment, grants, and loans, respectively, made by the United Kingdom Government to Commonwealth countries and Colonies, respectively, since 1946.

Mr. P. Thorneycroft

During the eleven years 1946–56, inclusive, loans by the United Kingdom Government to Colonial Governments were £29 million, grants amounted to £234 million, and official investment to £82 million. Payments to the territories now part of the Federation of Rhodesia and Nyasaland and to the High Commission Territories in South Africa are included in these figures. Official investment in other parts of the Commonwealth, including capital transactions concerning uranium and loans through the Export Credits Guarantee Department, were £54 million. Inter-Government loans not included in this total and grants were negligible.