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taking
ODA,
account of all pension income from Hong Kong and the
would result in many
being
policemen's pensions
safeguarded
at
levels
well below
those of
their UK
counterparts.
5.
You suggest that Hong Kong should contribute to
funding any scheme. This has been discussed exhaustively,
Hong Kong's Legislative
It is simply
not an option
Council would
not approve the funds
to discriminate in
favour of
provoke
ADDITIONALLY CHINA WOULD
OBJECT TO
THEY WOULD
FOR
expatriates.
To force Hong Kong to pay would
constitutional crisis.
ANY TRANSFER OF FUNDS TO UK FOR HMOCS PENSIONS.
ACCUSE US OF ROBBING THE FUTURE SARG'S COFFERS
SOMETHING WHICH
UP A POLITICAL FURORE.
BRITAIN SHOULD PAY FOR AND WOULD STIR
6.
My proposal
for
traditional
compensation
scheme and a Sterling pension safeguard set at HK$16:£1,
WHEN THE CURRENT EXCHANGE RATE IS HK$£1 AND THE AVERAGE
OVER THE LAST TWENTY YEARS HAS BEEN HK$12:£l, is designed
to
meet
Our
obligations to this last
group
of HMOCS
officers, and to take account of the interests of the UK
taxpayer.
It is already significantly less generous than
previous schemes :
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