Mr Cox
Reference
a
VALUE FOR MONEY
M
1. You will no doubt have seen the recent press reports on the Government's proposal to go ahead with a £2.8 billion (HK$36 bn) improvement to the M25. This figure is not unadjacent to the cost of Hong Kong's new airport.
2.
It would be interesting to know what economic appraisals and studies on the return of the capital employed, the Treasury have done. I think we should be told.
m?
Pq
M Stone
Hong Kong Department
WH 304
270 2651
6 September 1991
CC: Mr Broadbent, Economic Advisers
Mr Stone
touhé !
1
understand
that
the project
h
mitew
vey
and
Shavel
An
agaranty appraised under the изгальму
doti COBA system,
сова of 20%+
internal wath of them of minimal
кай
lie
& Shald
have him
helen one
earlier).
But
out
uited same method dogical
usnes
which
world allow
and
t
snipe at
сова
CODE 18-77!
RODAIC TG
U. Mr Cox