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PS
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FS/Lord Goronwy- Roberts
Bir D Watson
Mr ilford
Mr Sykes
Mr Male
Mr Thomson Defence Dept
SWPD
fir Andrew, AUSS,MOD
Hr Hansford,
Treasury
Mr Bryars, Cabinet Office
Copies to:-
Mr Aggleston, PSA
1
[TEXT] Personal for Governor
MIPT
1. In coming to this decision Ministers took the view
that, by any objective standard, Hong Kong could afford a 75% contribution, which they estimate would amount to 1% of the Colony's GDP. They were not unmindful of the current recession in Hong Kong but noted that the prospects for the Hong Kong economy thereafter were expected to be more favourable. Ministers also noted the low taxation rates applicable
in Hong Kong.
2. All this is for your own information only at this stage until we have had an opportunity to discuss with Mr Rodgers how he proposes to handle the talks (he is on leave until mid-August). He considers the matter
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