SECRET
w'355
DRAFT MESSAGE TO COVERIOR, HONG KONG FROM SECRETARY OF STATE FOR WRADE AND INDUSTRY
YOUR TELEGRAM NO 1417 MASS TRANSIE
FOR COVERNOR PERSONAL FROM SECRETARY OF STATE FOR TRADE AND INDUSTRY
I HAVE LOOKED AT YOUR INGENIOUS SUGGESTION FOR BRINGING
THE ANGLO-ITALIAN CONSORTIUM'S PROFOCALS WITHIN THE
CEILING SUGGESTED BY THE STEERING CT.CUF, BUT CANNOT
RECOMEND IT HERE. A GUARANTEE CULE COMIT THE UKG OVER
A PERIOD OF YEARS TO PUT UP PERHIFS 236-40 LILLION AC, IN
EFFECT, A GRANT-IN-AID TO HONG KONG. HEDGING HIGHN G3T US
CUK OF IN, BUT, AS YOU HAVE RECOGIRD, ONE HAS TO HOLD TO
THIS KIND OF PRO103. TITS DEA VIES OUT OF ACCOUNT TIE
PROBLEMI OF PROVADING SI IMLINS TO PUT UP THE 260 MILLIOTT
ODD GUARANDE NAZDED FROM MISIR SIDA, TIKALLY, MALIVR
THE MIGHT SY, A PRECEDENT OF INCALCULABLE LEZECT WOULD
HAVE BEEN CREATED AND QUIS IS UNACC“ PRABLE.
I CAN ONLY LEAVE YOU TO DO THE BEST YOU CAN WITH WHAT YOU
HAVE. IF YOU CANNOT PURSUADE EXCO DIEASE LIT ME KNOW
BEFORE THE JAPANESE AR? INFORIND AND B. FORN ANY PUBLIC
ANNOUNCE IT IS MADIS,