§ Mr. Knoxasked the Secretary of State for Trade what active steps he is taking to attract the headquarters of the Common Fund to London.
§ Mr. SproatThe United Kingdom Government have recorded their hope and wish that the headquarters of the fund be based in London, but the decision will be taken by the governing council, which will be set up when the agreement eventually comes into operation. In the meantime the advantages of London will be stressed on any appropriate occasion.
§ Mr. Knoxasked the Secretary of State for Trade what are the reasons why Her Majesty's Government wish the headquarters of the Common Fund to be located in London.
§ Mr. SproatLondon has an unrivalled concentration of commodity expertise and financial institutions, together with excellent communications, which the fund will require to ensure its success. To locate the fund in London would enable it to co-operate closely with several international commodity organisations and with the commodity markets, to reduce its operating costs and to increase efficiency, whilst providing opportunities to increase the United Kingdom's invisible earnings.