The noble Lords, Lord Ogmore and Lord Shepherd both referred to the recent loan which was floated in London and which, within less than a minute, was oversubscribed. I think that this is a clear indication of the idea that the financial world has of the prospects of Malaysia. Had these countries not come together, their ability to raise funds in the open market would certainly have been nothing like so great. So I think we can hope that not only aid that we are able to give from this country will come to them, but also that they will attract aid from other sources, and so their rate of development will be considerably increased.
The noble Lord, Lord Grantchester, spoke in particular about Brunei. The noble Lord, Lord Shackleton, wondered whether I might be able to answer, or perhaps refer in some way to, some of the observations made by the noble Lord, Lord Grantchester. I do not this afternoon propose to try to enter into the rights and the wrongs or what may have transpired between the Federation of Malaya and the Sultan of Brunei but, as I said in my opening speech, it was a disappointment to us all that the Sultan and his advisers felt that they were unable to go into this Federation of Malaysia. The exact reasons for not doing so are not entirely clear, although it may be that there was a degree of misunderstanding over something which, to us, may not appear important, but to which I understand His Highness, and perhaps his people in Brunei also, attached great importance. This was the question of precedence.
There was, I believe, a degree of misunderstanding over this. I do not think there was any misunderstanding at all over the question of oil. I myself hope that in the fullness of time—and I hope that it will be sooner rather than later—the Sultan and his advisers will see that the path of wisdom lies in going into Malaysia. As your Lordships know, the Sultan is at present in London. It is not for Her Majesty's Government to exercise pressure on the Sultan of Brunei, but we can try to explain to him where we believe his best interests lie; and this, of course, we shall do.
There was one point I think that I must correct, and I do it with great diffidence, speaking to an ex-Governor. I think the noble Lord, Lord Twining, was quoting from some publication of last year, because the present legislative arrangements in North Borneo are not as the noble Lord described. They have taken quite a considerable step forward. I will not weary the House with the details, but I thought that I should just correct the noble Lord, and if he cares to have the exact position now I shall be only too pleased to give him a note of it afterwards. I think we may be on the brink of something which will help to bring peace and security and prosperity into a part of the world which is liable to be unstable.
Reference has been made to Indonesia, and of course there is nothing in this idea of Malaysia which is in any way antagonistic to Indonesia. There is no reason whatsoever why Malaysia and Indonesia should not live in amity, side by side. There is no reason whatsoever why they should not find common interests, because, indeed, they have many. And it would be in the interests both of Indonesia and of Malaysia if the present rulers of Indonesia would realise that there is nothing in Malaysia of which they need be afraid. I do not wish to speak about the Sulu claim which has been referred to. This is an immensely complicated legal conundrum. I myself do not believe that this is a matter that is in any way insuperable or insoluble.
I believe that we are now on the brink of something great, and I know that all your Lordships in this House would like to join with me in giving our good wishes to all those who will go to make up a united people of Malaysia—a people who, if ever there were, are multi-racial. I have never in my travels been to any part of the world where multi-racialism was more a reality. In this, of course, there is great hope for a happy people, an industrious people, a friendly people, a people who deserve all the good that they have around them and all the prosperity which I believe Malaysia will give them.
On Question, Bill read 2a: Committee negatived.
Then, Standing Order No. 41 having been suspended (pursuant to the Resolution of July 23), Bill read 3a, and passed.
