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aef1.1g/kw/10.8.7
CONFIDENTIAL
Potentially
very large UK public expenditure is involved. We should therefore aim to identify for Ministers a coherent package that meets our policy goals and is defensible, at the lowest cost to HMG. For instance, we can see no justification for going beyond the compensation/incentives scheme which you outlined to the HK HMOCS associations earlier this year if they are to benefit from some form of sterling safeguard as well. We have a duty to minimise these costs, both by assessing the prospects for sharing the risks with the private sector, and by looking carefully at a range of options for HMG-funded support.
I hope that the attachment gives thinking. We should be happy Ministers whenever you wished.
Copies of this
letter go
you a helpful guide to our to meet to discuss the work for
to Dave Fish (ODA), Grant
Ballantine (GAD), Sandra Brown and Don Rayson here.
Yours, Rein Wordfuld
KEVIN WOODFIELD
CONFIDENTIAL