ATTRACTION OF BRITISH CAPITAL 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 has 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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Wanganui Chronicle, 17 March 1947, Page 6
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109ATTRACTION OF BRITISH CAPITAL TO AUSTRALIA Wanganui Chronicle, 17 March 1947, Page 6
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