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4. 1 REALISE HOW DIFFICULT IT HAS BEEN FOR HMG TO DECIDE WHAT TO DO AFTER 24 SEPTEMBER, BUT THE FACT REMAINS THAT INSPITE OF THE CHANCELLOR'S MESSAGE WE REMAIN WITHOUT ANY GUIDANCE AS TO WHAT WILL HAPPEN AFTER 24 SEPTEMBER TO THE VAST SUMS FOR WHICH WE ARE
RESPONSIBLE TO THE PUBLIC.
5. IN THESE CIRCUMSTANCES I SUGGEST THE ONLY SOUND ALTERNATIVES
ARE:
A) TO EXTEND THE GUARANTEE ON REALISTIC TERMS FOR WHATEVER PERIOD IS NECESSARY FOR HMG TO COME TO A DECISION, OR
B) GIVE US LIBERTY OF ACTION NOW (1.E. WITHIN THE NEXT WEEK EVEN THOUGH THE AGREEMENT DOES NOT EXPIRE UNTIL 24 SEPTEMBER) ON THE ASSUMPTION THAT THE GUARANTEE WILL END.
бо
IF NEITHER OF THESE ALTERNATIVES IS ACCEPTABLE I DO URGE THAT HADDON-CAVE SHOULD VISIT LONDON AT ONCE TO SEE THE CHANCELLOR PERSONALLY, I WOULD NATURALLY ACCOMPANY HIM,
>7. AS THINGS ARE COING WE RISK BEING LEFT WITH NO GUARANTEE,
NO TIME TO DIVERSIFY AND ABSOLUTELY NO JUSTIFICATION WHICH WE CAN GIVE TO THE PUBLIC FOR OUR FAILURE TO PROTECT THEIR INTERESTS.
MACLEHOSE
[COPIES SENT TO PS/NO 10 DOWNING STREET]
ORWELL DISTRIBUTION FRD
HKIOD FED
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