XN000022-1988-07-04 — Page 2

GOVERNOR TO VISIT LONDON

*

MONDAY, JULY 4, 1988

TO 20.

THE GOVERNOR, SIR DAVID WILSON, WILL VISIT LONDON FROM JULY 17 THIS WILL BE ANOTHER IN THE SERIES OF REGULAR CONTACTS BETWEEN THE GOVERNOR AND MINISTERS AND OFFICIALS IN THE FOREIGN ANL COMMON- WEALTH OFFICE.

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DURING НІЯ VISIT, THE GOVERNOR WILL GIVE A S1 BECH REPRESENTATIVES OF THE BUSINESS AND FINANCIAL COMMUNITY AT THE STATIONERS HALL IN THE CITY OF LONDON.

SIR DAVID AND LADY WILSON WILL THEN HAVE A SHORT HOLIDAY. THEY PLAN TO RETURN TO HONG KONG ON AUGUST 19.

THE GOVERNOR'S LAST VISIT TO LONDON WAS FROM MARCH 18 ΤΟ 24 THIS YEAR.

DCA TALKS TOUGH AND DEMANDING

THE NEGOTIATIONS OVER THE DEFENCE COSTS AGREEMENT HAVE BEEN TOUGH AND DEMANDING BUT THE END RESULT REPRESENTS A SUBSTANTIAL IMPROVEMENT WITHIN HONG KONG'S POSITION, THE FINANCIAL PIERS JACOBS, SAID THIS (MONDAY) EVENING.

SECRETARY, MR

AS A

HIS RETURN REASONABLE

SPEAKING TO MEMBERS OF THE MEDIA AT THE AIRPORT ON TO HONG KONG, MR JACOBS DESCRIBED THE NEW AGREEMENT AND FAIR DEAL.

ASKED ABOUT THE SAVINGS IN MONETARY TERMS UNDER THE NEW AGREEMENT, HE SAID IT WAS VERY DIFFICULT ΤΟ GIVE PRECISE FIGURES BECAUSE THEY WERE DEALING WITH ESTIMATED AMOUNTS OVER THE PERIOD UP TO 1997.

"BUT GENERALLY WE RECKON THAT AS A RESULT OF OUR NEGOTIATIONS WE HAVE SAVED TAX-PAYERS ABOUT $2 BILLION, HE ADDED.

IN REPLY TO A QUESTION ON THE POSSIBILITY OF RE-OPENING THE NEGOTIATIONS, MR JACOBS SAID: "ONE THING I CAN ASSURE YOU IS THAT WE HAVE FOUGHT EXTREMELY HARD FOR HONG KONG, EXTREMELY HARD."

"IT IS OUR INTENTION TO BRIEF THE FINANCE COMMITTEE TOMORROW AND THEN TO TAKE THE PROPOSALS TO THE FINANCE COMMITTEE ON WEDNESDAY," HE SAID.

/ASKED WHETHER