HM Treasury
We await a response to our letter of 30 July before we can reply on the Authorities request for first repayment in September 1980. 1/7/80 as the first due date although I doubt if we would wish to quibble over
Our letter proposed 2 or 3 months.
7
Item 3(e) is of a technical nature relating to the difficulty of dividing certificates of work done on civil engineering contracts between the UK (eligible) and local (ineligible) elements. We propose to permit UK civil contractors to
laim a fixed percentage (to be determined contract by contract) of every certificate of work performed (irrespective of the composition thereof) which would in the ultimate be the equivalent of 85% of the UK element in the contract.
8 I would welcome your comments on the foregoing and do not consider there is any
case for conceding the points which as mentioned in p.4 above, we propose to reject. I would particularly like your reaction to the starting point for credit proposed and my letter of 30th July.
Yours sincerely Tea Lowton
EG Lowton
No comments yet.
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