Dd.033009 Gp.863
NOTHING TO BE WRITTEN IN THIS MARGIN
CONFIDENTIAL
4
the Contractors must assume by arrangement reached
between themselves and that this should be made
set.)
clear from the outset.
6.
If a solution on this basis cau to agreed, then
We are not sure how HM Gle roepensibility- we would suffert mat, site
could be assumed. We understand that E.C.G.D.
could not be required to accept the risk with a
aqual t
guarantee/only half that which is required by
normal underwriting considerations, so that the
anagement
best way//w
would perhaps be for the Hong Kong
Government to give the 100% guarantee backed by a
public assurance from H.M.G. to the Hong Kong
Government that, in the event of the guarantee
having to be honoured, we would provide half the
sum involved. Nor are wo auté as to what
secounting arrangements would be required. H.M.G's
involvement in the project would be entirely on
political grounds.
could fr There is no question of it
falling under the head of aid since, as Kitching of
O.D.M. wrote to Lucas on 7 April, Hong Kong has a besuot–fekbeu dhamated-
booming and prosperous economy; the Colony does not
need financial assistance per se, but an act of
British faith in its future.
7.
We realise that the solution suppested
alın ismild br
a novel departure in our
dealings with our remaining dependent-teaïtories.
We
are
not afraid that, if we were & adopt
this solution for Hay kay, we shared I called
upon to extend similar treatment to other
teur mies.
We would not expect to come under
such an extension elsewhere; & Ÿ
such pussure for such an
we did, in should or pupared to resist it.
We
hope that in these circumstances you could
feel able to accept the proposal.
Time is und
short if the project is to be saved, & I should
be very (rateful therefore if you could let us have
your reply
as
faucet foon as
possible.
has
Lucas
attended meetups here & knows the background
fully. But if there is any further information you
to would like, I will cladly provide it; & if it
unuld help I will padly come over & table with
you about it.