BULK PURCHASES BY BRITAIN

Press, Volume LXXXVI, Issue 26126, 31 May 1950, Page 7

BULK PURCHASES BY BRITAIN

Criticism From Mr R. A. Eden USES OF FREE ENTERPRISE (Special Correspondent N.Z.P.A.) (Rec. 8 p.m.) LONDON, May 30. Criticism of bulk purchases was made by Mr Anthony Eden, when speaking on Commonwealth co-oper-ation in economic development. He declared that he did not believe that bulk purchase was the only way to give long-term security. Admittedly, said Mr Eden, longterm contracts could serve a valuable purpose, but so could long-term preference agreements, and these might be far less open to misunderstanding.

The greatest mutual benefit came from arrangements which were general in character, leaving individuals free to make the very most of their opportunities.

The Labour Party since coming to power had claimed to be the party to develop the neglected parts of the Empire, and had pointed to the establishment of overseas food and colonial development corporations as evidence of this.

“We never challenged the need for those corporations, whose creation is, in fact, the outcome of the Conservative policy for meeting colonial needs for capital. What we resent is the implication that nothing has been done by free enterprise to develop the Empire.” said Mr Eden. After reviewing Empire development, Mr Eden said: “All this has been accomplished, not because the Government usurped the functions of industry, but bv the creation by the Government of circumstances in which free enterprise could take advantage of the spirit of adventure, the zeal, and the activity of private individuals.”