TNAG-0449-FCO40-514-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 3

GR 98 PRIORITY

CONFIDENTIAL

CYPHER/CAT A

FM HONG KONG 290900?

RECEIVED IN

REGISTRY No.52

- 2 DEC 1974

Ihm. Stungul

५

106

/A

CONFIDENTIAL

LICK 5/10

TO PRIORITY FCO TELNO 1186 OF 29 NOVEMBER. 1974

REPLIES TO PARLIAMENTARY QUESTIONS,

YOUR TELEGRAM 1044.

LAST

REF.

REX

REF

99

MR. SILLARS' QUESTION WAS ABOUT HONG KONG'S BUDGET SURPLUSES AND, THEREFORE, THE FIGURES PROVIDED IN OUR TELEGRAM NUMBER 1105 RELATED TO HONG KONG'S GENERAL ACCOUNT ONLY. WHEREAS THE TOTAL OFFICIAL STERLING HOLDINGS GIVEN IN OUR TELEGRAM NUMBER 1080 EMBRACED THE GENERAL ACCOUNT, THE EXCHANGE FUND, THE COINAGE SECURITY FUND AND THE REHABILITATION LOAN SINKING FUND. IT FOLLOWS THAT TOTAL OFFICIAL STERLING RESERVES WILL BE SUBSTANTIALLY GREATER THAN THE GENERAL ACCOUNT STERLING HOLDINGS PROVIDED IN THE PARLIAMENTARY REPLY.

MACLEHOSE

961

FILES

HKIOD (4) FRC

PS/LORD GORONWY-ROBERTS

{

MR MALE

CONFIDENTIAL

COPIES TO:

MR S T KIDD

HONG KONG GOVERNMENT OFFICE

6 GRAFTON STREET W 1

LAST ENTRY