XN000022-1992-06-26 — Page 8

FRIDAY, JUNE 26, 1992

7

DISCUSSIONS WITH GOVERNOR-DESIGNATE USEFUL

FS

THAT

THE FINANCIAL SECRETARY, MR HAMISH MACLEOD, SAID TODAY (FRIDAY) HE HAD A VERY GOOD TRIP TO LONDON AND HAD VERY THOROUGH DISCUSSIONS WITH THE GOVERNOR-DESIGNATE, MR CHRIS PATTEN, ON MOST THE KEY ISSUES.

HIS

OF

ASKED BY MEMBERS OF THE MEDIA ON HIS RETURN AT KAI TAK ABOUT MEETINGS WITH MR PATTEN, MR MACLEOD SAID THE GOVERNOR-DESIGNATE WAS WELL INFORMED AND EXTREMELY ENTHUSIASTIC TO GET ON AND GRAPPLE WITH THOSE ISSUES.

"I SPENT

MONDAY MORNING WITH HIM AND AGAIN WE RESUMED ON SO WE HAD A CHANCE FOR A VERY THOROUGH RUN OVER MOST OF THE AREAS WHICH I COVER"

TUESDAY MORNING.

KONG

MR MACLEOD SAID MR PATTEN HAD ALREADY READ BRIEFS FROM HONG OF HEART AND THEY WERE THEREFORE ABLE TO GET STRAIGHT INTO THE ISSUES SUCH AS INFLATION, THE AIRPORT CORE PROGRAMME, HIS EXPERIENCES IN THE LAST BUDGET AND THOUGHTS ABOUT HOW TO HANDLE THE NEXT BUDGET.

MR MACLEOD SAID HE FOUND SUCH CLEAR, DIRECT CONVERSATIONS BETWEEN THE TWO OF THEM EXTREMELY USEFUL.

ASKED TO COMMENT ON THE INFLATION FIGURE FOR THE MONTH OF MAY, MR MACLEOD SAID IT WAS SLIGHTLY DOWN FROM 8.9 PER CENT TO 8.8 PER CENT AND HE WAS ENCOURAGED THAT IT WAS STILL GOING DOWN.

CENT

——

BUT I AM NOT

WE CLEARLY

"WE HAD A VERY CONSIDERABLE DOWNWARD TREND SINCE THE 13.9 PER OF APRIL 1991. WHICH WAS ONLY ABOUT A YEAR AGO COURSE AT ALL SAYING THAT THE PROBLEM IS OVER.

ARE CONCERNED THAT IT IS STILL HIGH.

HE

IN PARTICULAR, SAID

THE GOVERNMENT WOULD KEEP A DOMESTIC PROPERTY PRICES AND THE ECONOMY IN GENERAL.

WATCH

ON

AIRPORT THE

ASKED WHETHER THERE WAS CONCERN IN LONDON ABOUT THE PROJECT, MR MACLEOD SAID: "CERTAINLY THERE'S A LOT OF INTEREST IN AIRPORT PROJECT AND HOW SOON WE CAN GET ON WITH THE TALKS.

..

IN REPLY TO A QUESTION ON WHEN A FIRM DATE WOULD BE SET FOR THE THAT HIGH LEVEL TALKS, MR MACLEOD SAID HE DID NOT KNOW, BUT HE HOPED IT WOULD BE VERY SOON, "I THINK THERE'S NO DISAGREEMENT ON THAT, THAT WE

GET ON AND HAVE THOSE TALKS AND TRY TO SHOULD

REACH A SOLUTION

FAIRLY SOON.'

ON

*

VISIT, HIS

MR MACLEOD TOLD REPORTERS THAT

THE HE TOOK OPPORTUNITY TO CALL ON THE GOVERNOR OF THE BANK OF ENGLAND AND SOME OF HIS KEY STAFF. "IT'S QUITE IMPORTANT FOR ME TO KEEP IN TOUCH WITH THE BANK OF

ADVICE ENGLAND WHO ARE VERY HELPFUL TO US IN GIVING US OCCASIONALLY LENDING US EXPERTS ON MONETARY MATTERS.

AND

MR

OTHER THE TWO

HE ALSO MET THE SECRETARY OF STATE FOR TRADE AND INDUSTRY,

INTEREST. MICHAEL HESELTINE, TO TALK ABOUT ISSUES OF MUTUAL SENIOR

INCLUDED MR MACLEOD MET IN LONDON PERMANENT SECRETARIES OF THE UNITED KINGDOM TREASURY.

WHOM OFFICIALS

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