§ Mr. Tilneyasked the Chancellor of the Exchequer whether the discussions of the proposed insurance scheme for British investment in Singapore have yet been concluded; and if he will make a statement.
§ Mr. BarberI welcome this opportunity of expressing Her Majesty's Government's support for the Singapore Investment Guarantee Scheme which was formally instituted by the Government of Singapore on 18th January.
Full financial liability has been assumed by the Singapore Government, and the Trust Deed arrangements to be operated on its behalf by the Crown Agents will provide a guarantee of compensation against non-commercial risks for British investors.
The Government are pleased to express their support for this initiative which underlines and encourages the important rôles which private investment can play in the developing countries of the world
Copies of the Trust Deed and the covering Inter-Governmental Exchange of Notes will be placed in the Library of the House of Commons as soon as they are available.