SECRET
144101
MDHOAN 0291
ANTI-INFLATION POLICY EXCLAM.
5.
SORRY FOR THIS NEGATIVE FEED-BACK ON A BUDGET WHICH TO MY LAYMAN'S EYE SEEMS OVERALL TO HAVE STRUCK A WELL-JUDGED BALANCE BETWEEN CONFLICTING PRIORITIES AND INTERESTS. NO DOUBT THERE WILL BE SOME GROUSING IN HONG KONG TOO, BUT THAT IS THE WAY OF THE WORLD THESE DAYS.
HURD
YYYY
DISTRIBUTION
24
MAIN
24
HKD
FED//HD
PUSD//HD
PS
PS/LORD CAITHNESS
PS/PUS
SIR J COLES
MR BURNS
ECONOMIC ADVISERS//HD
LEGAL ADVISERS//MISS BROOKS
NNNN
PAGE
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