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American Investment

Volume 476: debated on Wednesday 28 June 1950

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asked the Secretary of State for the Colonies whether it is the policy of His Majesty's Government to encourage American investment in the Colonial Empire.

Our policy is, in general, to welcome American investment in the Colonies. But we have to bear in mind that such investment normally carries with it a dollar liability for remittance of dividends or profits and an ultimate liability for repatriation of capital. So long, therefore, as the dollar problem is with us our policy must be selective and we must satisfy ourselves that any given project will either give a net earning or saving of dollars, or will be of such substantial economic benefit to the Colonial territory concerned as to justify any possible loss of dollars involved.