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CANADA: British Comeback

1 minute read
TIME

British investment in Canada, which slowed to a trickle after World War II. is rising again. Ontario’s Minister of Planning and Development William Warrender, home from a tour of Britain, predicted last week that United Kingdom businessmen would pour as much as $150 million into Canadian industries next year, more than quadrupling their 1953 rate of investment.

After reaching a peak of $2.8 billion in 1929, total British holdings in Canada declined slowly during the 1930s, then rapidly after the outbreak of World War II as the British sold their overseas properties to pay for the war. In 1949, the trend was reversed, and as Britons built up their dollar reserves, they turned once more to Canadian ventures. But Britain, for many years the leading outside investor in Canada, has long since yielded first place to the U.S. The British stake in Canada at the end of 1952: $1.8 billion; U.S. holdings: $8 billion.

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