H.M.G. would have a responsibility to
consider all these claims. We might find
that we are committed to meeting claims in
excess of the available official assets, in
which event we might have to find additional
sums from our public purse or, in the case of
claims from departments of H.M.G., write
them off. In these circumstances it is,
to my mind, both inappropriate and
unnecessary that one department of H.M.G.
should give to another an assurance that a
particular claim should have "unsubordinated
right of access" to the Hong Kong assets at
H.M.G's. disposal.
The most that could be
said is that an ECGD claim would rank with
other claims for which H.M.G. might have to
accept responsibility. And this, surely, is
in fact self-evident, given ECGD's status as
a governmental organisation?
I hope that, notwithstanding these
observations, you will be able to find some
means of overcoming the difficulties in the
way of this project in view of its importance
to U.K. exports.
I am sending a copy of this letter,
together with a copy of my earlier letter to
you, to Dick Taverne in the Treasury.
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