COMMONWEALTH INVESTMENT
Re-examination Of Policy Urged
(N.Z. Press Association Copyright) LONDON, May 5.
A thorough investigation of Britain’s attitude towards Commonwealth investment needs was certainly an urgent necessity and it involved major Commonwealth countries such as New Zealand and Australia as well as the more recently independent units, says the “Financial Times,” discussing the annual report of the Colonial Development Corporation. “There are certain difficulties, however, in allowing a semiautonomous body to channel investment from British to fully independent territories, not the least of them being political,” says the newspaper. “Government consultations with the Commonwealth on future development and capital problems have been taking place and it is understood that the whole question is being reviewed- in London.
“With Malayan independence scheduled for the end of August it is obviously urgent that the re-examination o_ Commonwealth investment policy should be completed in the near future. “The Commonwealth Prime Ministers’ Conference in June could well be made the occasion for consideration of the problem at the highest level. “The Colonial Development Corporation may not be granted new powers but it will have a role to play in whatever new schemes are decided upon.”
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Press, Volume XCV, Issue 28270, 7 May 1957, Page 16
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192COMMONWEALTH INVESTMENT Press, Volume XCV, Issue 28270, 7 May 1957, Page 16
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