حمودم
816
616.
Mr Male
UNCLASSIFIED
Auseful steer
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PS/Lord Goronwy-Roberts
Росная
%
کرش
(10
HONG KONG'S BUDGET
1.
The Minister may perhaps be interested to read the attached text of a speech by the Acting Financial Secretary of Hong Kong about the implications of this year's Hong Kong Budget.
2. This is a useful plain man's guide to a subject that has given rise to much misunderstanding within the Colony. In particular public opinion as a whole tends to believe that Hong Kong's reserves have been frozen by HMG for the selfish purposes of Britain; that we milk them when we choose to do so; and that meanwhile Hong Kong is prevented from making any use of them. The sideline passage of Mr Jordan's speech should help to clear this up.
3.
We have been working hard on the theme that it is up to the officials of the Hong Kong Government to clear up mis- understandings about HMG's policy as far as possible. In the past they have been shy of doing this, fearing to damage their own credibility. Mr Jordan's speech is a welcome developed step in the right direction.
to congratulate him.
I have written
5 June 1974
ACSL
A C Stuart
Hong Kong and Indian Ocean Department
CC: Mr Cambridge (Financial Relations Dept.)
FRD
Mr Foggon (Overseas Labour Adviser)
Me shind
П
PA
Ar Goodfellow / 06
UNCLASSIFIED
• sterling.
70 6
10
876