CONFIDENTIAL
SPOS
The HMOCS Association will argue with some justification that
the above proposal on the pension safeguard would mean that in
practice the safeguard was of no meaningful benefit. It is
therefore essential that if we are to move towards the
Treasury's position on the safeguard that we secure our
proposal on the amendment to the SPOS Regulations.
8.
The Governor has stated that the Secretary of State's
current proposal represents his bottom line. However, he will appreciate that the Prime Minister's inclination will probably be to seek a compromise, and that the Secretary of State will
need to have a hand to play at the meeting. I therefore
propose that we consult the Governor on the draft Cabinet
Office paper when it is received and also seek his views on the
the compromise proposed in paragraph 4 above.
Kiebet
PF Ricketts
sub.hmocs.ADMIN
JEB
I this this represents the fort available
particularly refutation issue.
Chan 12/5
CONFIDENTIAL
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