RESTRICTED
PARD FOR IN HONG KONG DOLLARS THE MOTHERLAND ALSO SHOULDERED LOSSES CAUSED BY THE DEVALUATION OF THE LOCAL UNIT. THE PAPER URGED THE HONG KONG GOVERNMENT TO TAKE REASONABLE MEASURES' TO CREAT AN ENVIRONMENT IN WHICH THE LOCAL UNIT WOULD STABILISE. IN THE SHORT-TERM THE WITHHOLDING TAX ON HONG KONG DEPOSITS SHOULD BE ABOLISHED. OTHER MEASURES SHOULD INCLUDE CURBS ON SPECULATION AND CONTROL OF INFLATION.
YOUDE
FUTURE OF HONG KONG
LIMITED
HD/HKD
HD/FED
HD/PLANNING STAFF
HD/PUSD
PS
PS/LADY YOUNG
PS/MR LUCE
PS/PUS
SIR J BULLARD THIS TELEGRAM
MR GIFFARD
MR DONALD
MR WRIGHT
WAS NOT
ADVANCED
COPIES TO
SIR IAN SINCLAIR LEGAL ADVISER
MR BURROWS
MR ROBERTS
LEGAL ADVISER
MR MARTIN
MR FLOWER
MR COLES
NEWS D
ASSESSMENTS STAFF
CABINET OFFICE
PUSD
NO 10 DOWNING STREET
SIR A PARSONS NO 10 DOWNING STREET
MR WALKER RESEARCH D GOGGS
HK GO LONDON
RESTRICTED