TNAG-0322-FCO40-358-Construction-of-underground-railway-system-in-Hong-Kong-1971 — Page 91

NOTE FOR THE RECORD

Reference........

18.

UNDERGROUND RALLWAY HONG KONG

1.

I discussed enclosure (17) with Mr Toms on the telephone this morning. He explained that when CRE were talking to Mr Ross and Mr Curry they of course said nothing about Sir L Monson's recent letter to the Governor. Mr Toms has it in mind at present that HMG might guarantee credit provided by the City. He thinks it most unlikely that HMG would be able to offer a direct grant but until we know more about the financial arrangements proposed by the Hong Kong Government - assuming that the decision is taken to go ahead with the project it is very difficult to work out what might be done to help at this end. Nevertheless Mr Toms thinks it important to keep up the pressure both on Departments (the Treasury, Bank of England and ECGD) and also on the City and it was with this in mind that he said what he did say to Mr Ross and Mr Curry.

2.

-

He considered the possibility of sending a copy of his note to Mr Blackwell but decided against doing so because, although Mr Toms did not say so in so many words, Mr Blackwell is inclined to be emotional on this subject.

16 February 1971

In Kinn Klitr

E O Laird

Hong Kong Department