TNAG-0171-FCO40-207-Effect-of-UK-s-economic-measures-on-exports-from-Hong-Kong-1969 — Page 14

SECRET

Jili

CYPHER/CAT A

IMMEDIATE F CO

TELEGRAM. NUMBER 152

SECRET.

NEUTRAL FRAME

TO OSLO

20 OCT. 1969 (TRADE POLICY DEPT

ADDRESSED TO OSLO TELEGRAM NUMBER 152 OF 20 OCTOBER AND TO COPENHAGEN STOCKHOLM VIENNA BERNE LISBON HELSINKI DUBLIN PARIS BONN ROME BRUSSELS THE HAGUE WASHINGTON OTTAWA TOKYO CANBERRA WELLINGTON DELHI RAWALPINDI KINGSTON VALLETTA PRETORIA UKMIS GENEVA UKDEL OECD UKDEL EEC BRUSSELS AND REPEATED FOR INFORMATION TO HONG KONG (GOVERNOR).

MY TELNO 151 TO OSLO: IMPORT DEPOSIT SCHEME AND FOREIGN TRAVEL

ALLOWANCES.

CHANCELLOR'S STATEMENT WILL FOLLOW LINES OF TEXT IN MIF T.

2. YOU SHOULD BE READY TO INFORM THE GOVERNMENT/ORGANISATION TO WHICH YOU ARE ACCREDITED OF THE GENERAL LINES OF THIS STATEMENT AFTER 1000 HOURS GMT 21 OCTOBER, BUT SHOULD TAKE NO ACTION UNTIL YOU RECEIVE INSTRUCTIONS TO PROCEED BY FLASH TELEGRAM (WHICH WE HOPE TO DESPATCH AT ABOUT 0930 HOURS GMT). THIS AMENDS INSTRUCTIONS IN MY TEL UNDER REFERENCE.

3. YOU SHOULD EMPHASISE IN PARTICULAR THE FOLLOWING POINTS:- (1) THE CONTINUANCE OF THESE TWO CONTROLS IS A SIGN NOT OF WEAKNESS BUT OF DETERMINATION TO ACHIEVE AND SUSTAIN A LARGE AND CONTINUING SURPLUS ON THE BALANCE OF PAYMENTS: (11) THE DECISION TO CONTINUE THE IMPORT DEPOSIT SCHEME IS BASED BOTH ON THE REQUIREMENTS OF ETHE EXTERNAL POSITION AND ON DOMESTIC

MONETARY CONSIDERATIONS:

/(III) THE

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