TNAG-0572-FCO40-705-Monitoring-of-progress-made-on-planning-paper-on-Hong-Kong-1976 — Page 47

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AND I AM SURE WE CAN DO SO FAIRLY FAST AND WELL WITHIN 5 YEARS.

INDEED THE LEGISLATION NOW PROPOSED WILL GO A LONG WAY TOWARDS,

CLOSING THE GAP. I AM SATISFIED THAT WE CAN DO SO BY STEPS

GRADUATED SO AS NOT TO AFFECT MATERIALLY OUR COMPETITIVE

POSITION. BUT IN THE MOOD CURRENT IN SOME OF OUR MAIN MARKETS

THE DANGER TO OUR COMMERCIAL PROSPECTS OF FAILURE TO MAKE

RAPID PROGRESS COULD WELL BE GREATER THAN THE COMPARATIVELY

SMALL IMPLICATIONS FOR OUR COMPETITIVE POSITION. FOR ALL THESE

REASONS, BUT PARTICULARLY BECAUSE I BELIEVE IT TO BE RIGHT FOR OUR SOCIETY, I ATTACH GREAT IMPORTANCE TO THIS LEGISLATION,

· AND TRUST IT WILL RECEIVE THE SUPPORT OF HON MEMBERS'’

MACLEHO SE

FILES

H K D

FED

OLA

PS/LORD GORONWY. ROBERTS

MR LARMOUR

MR MALE

MR CORTAZZI

COPIE S

То

MR LIPSEY

POLITICAL

1

ADVISER.

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CONFIDENTIAL