of the future of Hong Kong.
While the project has great significance it also poses important
issues which we will have to put to Ministers. I mentioned to
you that we would have to seek Ministerial views on:
- the possibility of Government equity involvement;
the liabilities that it would be reasonable for UK interests
including HMG and Hong Kong Government to assume;
the nature of any commercial package including the choice
of nuclear island vendor having regard to contractual,
technical, safety and wider political and nuclear non
proliferation considerations;
the financial and in particular credit terms that might be
offered.
I said that the interdepartmental Whitehall committee which I chair
was considering these issues and would be submitting its proposals
to Ministers in September. Our intention is therefore to reach
conclusions in time for the Foreign Secretary's visit to Hong Kong
and Peking at the end of September and your Executive Committee meeting
in early October.
Meanwhile I hope this letter indicates the seriousness with which
we here are all approaching such a highly significant project which
owes so much to your personal foresight and the drive and determination
which you and Bill Stones have both brought to bear.