+
"Indeed, taking all our existin agreement.. into account, the total
amount we have paid, or will pay, din ctly or in irectly, to the Hini..try
of Defence during the financial years 1965/66 and 1966/67, that is tor
say, the last financ: al year and the current fin. icial year, is not
merely the present £m. annual defense contribɩ :ion agreed in 1958,
plus the £1 m. a year for 6 years in respect of capital works. This
makes £2 迎 · a year in all, and it is the figure hich is most frequently
quoted as the sum we are paying: but, in fact, la t year and this year,
our total payments have amounted to, or will amou t to, just about £5 1.
in each year, when such additional payments as th instalments on the
Dockyard lend transaction, and various payments e nnected with other p.st
military land transactions, including the Whitfic. 1 one, are all added up.
"It was therefore thought by post of us on ir side, after e grè̟t
doel of discussion and anxious search for where te best interests of
#
-ong
Kong lay, to offer to the United Kingdom as a ges ire, in recognition `f
difficulties which we too must hope they will
her economic difficulties
be able to solve a four-year agreement to continue to contribute this
samo sum that we have been paying; that is to say, £5 m. a year. This
amount would be paid each year in the four financial years 1967/68 to 1970/71;
end it would have to be applied not only towards partially meeting the
recurrent costs of the garrison, but also to covering both the reduced
balance still due under the £6 m. capital works programme and whatever
other financial obligations we still had it one and of this financial year
under past agreements, Her Majesty's Government have accepted this
offer.
/....