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Mr. Tang further tells me that Mr. Royle thought that a grant of up to £1 million for the Polytechnic might be feasible if it could be matched, dollar for dollar, from Hong Kong's own resources. He therefore came to consult me on whether an assurance that it could be so matched might be given to Mr. Royle.
The position is this. It still remains for the details of the Polytechnic project to be formally approved by the Executive Council and for the necessary funds to be approved by the Finance Committee. Acceptance of gifts is also a matter on which Finance Committee's approval is sought. But, on the supposition that the necessary approvals from both Councils will be obtained, there is no doubt that a gift of this order of magnitude could and would be matched locally, since the total cost of the project would exceed £2 million by a wide margin. Some part of the matching funds might well come from private sources; but whether from private or government sources, or a combination of both, they would be available when the project has received approval.
I need hardly add that such a gift would be most welcome. It would be particularly appropriate, I feel, if an announcement about any gift could be timed to coincide with the announcement of the final decisions on the Polytechnic - perhaps later this year.
I hope this provides the assurance
Mr. Royle sought.
May I add that Mr. Tang was most grateful for the courtesies extended to him during his visit to London.
Yours ever Что
David.
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