TNAG-0525-FCO40-620-Visit-of-UK-Members-of-Parliament-(Defence-and-External-Affa-1975 — Page 165

11 NOV 1975

\HICK 3/548/8

BANK OF ENGLAND

Threadneedle Street

London

EC2R 8AH

4th November 1975

1ས༔

R.B.Janvrin, Esq.

Hong Kong and Indian Ocean Department,

Foreign & Commonwealth Office,

Downing Street,

London,

SW1A 2AL

134

Dear Janvrin,

We spoke recently about your letter of 28th October to Folger concerning briefing for members of the Select Committee on Expenditure on Hong Kong's contribution to the British economy.

I think you shared some of my reservations regarding the slant of the draft speaking notes enclosed with your letter. I hope that you may find helpful the attached alternative framework for a note which I have put together. It aims at a more neutral approach.

In any event, the last sentence of para. 4 of the enclosure to your letter (on H.K. Government transfers to London) should be deleted. It is not now a true bill. Sub-para. (c) (v) of the attached note covers this ground.

As regards the question in the last sentence of your letter, there are no comprehensive figures available for the bilateral balance of payments on invisibles account between the UK and Hong Kong, and any estimates which might be made would be subject to many reservations: the CSO could no doubt advise on this.

I am sending copies of this letter with enclosures to Folger and Arnold (HMT) and Ashwood (DOT).

Yours sincerely,

Col

P.B.Rackham

Page 165Page 166