CONFIDENTIAL
We should bear in mind that our main object is to see that quantitative restrictions of whatever sort are held to a minimum and are based on strictly-observed criteria of "serious injury". We need not decide until after consultation with other countries, especially perhaps the E.E.C. and Japan, exactly how strongly to incline towards which method of achieving this objective - or rather, to be realistic, of moving as far towards it as is practicable.
31. Because such a Working Party would take some time to report and because so many countries are likely to want the Cotton L.T.A. extended we should be prepared in the end to go along with an extension (preferably perhaps of two years rather than three), particularly as it would in fact suit us to have it extended until the beginning of 1972 when our tariff policy comes into force.
Board of Trade, S.W.1.
2nd September, 1969
8
CONFIDENTIAL
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