BRITISH CAPITAL
FLOW TO AUSTRALIA The chairman of the English, Scottish and Australian Bank, Ltd., Sir Frederick Young, who is visiting Adelaide, expressed the opinion that the migration of British capital to Australia had been attracted by fiscal considerations. The mainspring had been the need to protect old connections on the spot from outside competition. The limiting factor in further capital movements was likely to be the difficulty of procuring labour.
Sir Frederick said it was difficult to see how- Britain could achieve the necessary increase of 75 per cent, in exports over pre-war levels under conditions of free competition, because of the tremendous expansion of American production.
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Otago Daily Times, Issue 26407, 11 March 1947, Page 7
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108BRITISH CAPITAL Otago Daily Times, Issue 26407, 11 March 1947, Page 7
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