Total HMG cost (£M),includes £94M SPOS
800
700
600
500
400
HMOCS
FCO
300
Treasury
200
100
1
Sterling Safeguard
1
F
0
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
20
Exchange rate protection (HK$-£1)
HMOCS Expectation
Treasury Proposal
FCO Compromise