Sir A. Galsworthy
»
Saitek sirport
Ve hat & small domestic mecting on 22 April to
consider what could be done to break out of the present
I had not then read är. Carter's useful note of
impasse.
the same date, but have since done so.
2. I can only record my own impressions and sug estions
based on the talk and reading of år. Carter'a paper.
Briefly I think that there is no case on bal.nce of payments grounds for our helping towards the cost of extending Kaltak. in budget grounds the base is pretty poer in view of the way Hong Long's domestic finances are developing. As always with ing there are the paychological-confidence factors, but ersonally I feel that the argument here is weaker now that we have made the major gesture of confluence
over the Tun el. Therefore I think that in the end the
case for putting British money into Hong Kong stands or
falis largely on the aviation groun that we derive
considerable financial benefits from the bargaining use
we can make of aitak and that we are guilty of straightforward exploitation of Hong Kong if we do not pass on to her some of this money we are making out of
er.
3.
But Hong Kong too will make a lot of money out of the extension of the airport, rimarily from the tourists,
and it seems reasonable therefore to start from the
assumption that the total cost should be shared between
ritain and "ong Kong something in the ratio of 6:8.
Li It seems clear from Mr. Carter's minute simply shall not succeɛd in obtaining as much as đồ m. from any single British source, except perhaps at market rutes of interest and over a shortish period of amortisation
which Hong Kong says she will not pay. if, therefore,
we are to contribute at al
somewhere, Some of the grue
Hong on, i.e, she must reɔ
hat we
something has got to give way
111 have to come from
cile herself to not
obtaining the whole of the 86 m. at low rates of interest.
че
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