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U.K. Policy of j A “Tall” StoryN-Inin*aidheratberReciprocalInvestmenthadandamiwithroft,;ity:WASHINGTON, Wednesday.- The British Government was endeavouring to create a reciprocal investment policy both inside and outside the Commonwealth, Mr. R. A. Butler, Britain’s Chancellor of the Exchequer, saidbertirer.Ed-ore-jen-ai-3ep-ivenmanlon-her e toaterargesked?ne-outhersneandmeuselearmy-TOItandink-fourela-ded.r ataninftooby four said e asby not Wil-she i a one. med . Heyesterday.He was speaking during a panel discussion on ihe prospects for private international investment at the World Bank meeting in Washington.1 The United Kingdom had set itself the specific task of so constructing its economic policy that it could continue to be a substantial investor overseas, particularly in the Commonwealth. he said.Mr. Butler said that it wa* too earlv as yet to think in terms of complete freedom of movement of capital That would come only after other freedoms, such as freedom to convert one currency into another and freedom of trade from quota restrictions, both of which would greatly stimulate international capital movement.We intend to press forward with those objectives,' he said.Mr. Butler said he had no wish to encourage reckless lending or borrowing, as transactions of that kind would do more harm than good.There were limits to the influence of international capital in promoting expansion of development. production and trade, and in “maintaining equilibrium in international payments.But the fullest and best use of international capital resources which were avail able was not yet being made. Mr. Butler said countries needing capital should act in a way that would give confidence to the investor, and countries able to lend the capital should not arrange their affairs in such a way that service of the capital was made extremely difficult or impossible.He added that, the BritishLISBON. Wednesday. —A story of aluminium-suited men who climbed out of a flying saucer”’ to pick flowers and shrubs near the mountain village of Al-maseda. is told in a letter published in the newspaper “Diario de Lisboa.”The writer. Cesar Cardoso, said he saw the flying saucer” with three men. and all four were invited to enter it.According to Cardosa.three men, each six feet seven inches tall climbed out of the saucer.” They were clad in aluminium suits and they cut flowers, shubbery and twigs and put them in a shining box.Cardoso said the men did not insist when he and his friends refused an invitation to enter the •saucer.” which then flew off vertically at a terrific speed, emitting a shower of sparks.”]Action on CasinoBaths KioskRights DeferredCASINO. Wednesday.—The Municipal Council last night deferred action in connection with a recommendation on kiosk rights at Casino Memorial Baths.MR. If. A. BUTLER.MAIDEN DOG CLOSE TO RECORD RUNCASINO. Wednesday.— Beau Moon. a little sister to Flight.v Moon, ran within 1/10 second of the course record to win the .100 yards Maiden second heat at the Casino Greyhound meeting last night.Tl. „ Aid- G. A. Rice supporteda \ recommendation was Aldermen Phee and Baker.T The vote was taken after AidIt sought alterations to the m. Kunkler had foreshadowed agreement between the council a further Amendmentft ltUrXWae“ethc commit-i ff ’ tee’s recommendation be rc-Thl.a ferred back to the committeeThe recommended alteration f0r further report.l° Pervmit^ U3e S£e Aid. Kunkler said a clearer * and more concise clarification public throughout the year, at 0f what the recommendation me kioss. intended was required.The counci referred it back Ald. Phee said if this was to the committee for considers- adopted it would be the fifth non and report in a months time the baths supervision ■„ . k. . question had been referred toThe chairman of the badis the committee for report, committee, Aid D. K. J. Kis- -This amendment is the only sane, last night moved the alternative to the motion, but adoption of the report embrac- it is a terrible alternative,” Aid. ing the recommendation. pftee ^jd Aid. Phee then introduced an Aid. Kissane. speaking in amendment that the recom- reply as mover of the motion.1WedefChMrvacduitheatBiposttheBevto ttati’ties.turrties.t: bv : seat tive poii ltnq tion the H na:g his Grr Sou gan 1naraiSU|anLe;hasuimeLaneGovernment was constantly 17^!JJ£0Mi!l«racCH 'nlt; examining ways of removing ig 9 ]n seconds disincentives to foreign invest- 0 seconds .s heid by New-ment in the United Kingdom Beau Moon drew the oufudeCZECH PAYMENTS -s° 9. and had to go pastmendation should be deleted and the matter held in abeyance pending ministerial advice.said the committee's proposal could he found in operation elsewhere.The council would be ableHe said he and fellow Labour to exercise control over what representative. Aid. R. P Baker, was sold and also as far as had sought a Ministerial in- prices were concerned qniry into the council's decision The committee had given the to conduct baths supervision matter very careful considera-RcF
Newspaper Details
Lismore Northern Star
Lismore, New South Wales, AU
Thu, Sep 30, 1954
Page 8
Full Page
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Anonymous
USA 31 Jan 2024
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