45
OSINO
Treasury Chambers
Great George Street, London S.W.1
Telephone: 01-930 1234, ext. 555
५१
Our reference: 2DM 415/01
Your reference:
A W Gaminara Esq
SECRET
Foreign and Commonwealth Office
Whitehall
London SW 1
Dear Gamimard, Сташиса,
HONG KONG DEFENCE CONTRIBUTION
31 March 1971
The Chancellor of the Exchequer announced in his Budget Speech yesterday a further reduction in the UK's overseas debts.
2
The figure for these debts which we recently gave the Governor of Hong Kong is thus now out of date. You may feel that additional instructions should be sent on the following lines:-
"With reference to paragraph 3 of my Tel No 235, you should note that in the Budget Speech on 30 March the Chancellor announced that HMG's outstanding short and medium-term overseas debt has now been reduced to £683m.
If Unofficial Members observe on this and in consequence attempt to question the argument in the fourth sentence of paragraph 2 of the reply in Tel No 236 you should point out that although good progress continues to be made with repayment a figure of nearly £700m of debt still represents a very large burden for us.
11
3 I am copying this letter to Thorp (MOD) and Smith (DOE).
PED IN R GILTRY No.51
NICK 10
PA
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1.4.1.
SECRET
Jous sucessf
TJ BRACK