TNAG-0622-FCO40-770-Budget-of-Hong-Kong-1977 — Page 7

::

Regist. pl. attach pps. exp. N. Stewart's letter of S

16 June

2. I Thompson - should the Stewart be advised to

This ~ Hong Kong?

CONFIDENTIAL

розре

Mr.

الاساسية

812319.

in. Thompsoni con

Mr JAB Stewart

ewart (HKGD)

22

53

dc:

Mr M Stewart Mr Maud

(FRD)

HONG KONG : ECONOMIC DIALOGUE

1.

(Special Adviser)

26 Дорь:)

Mm

2214.

HKK 100/2

RECEIVED IN REGISTRY NO. 51

I attach a letter I have received from eaffres 217 SEP 1988reply to mine of 24 August 1977 (also attached for convengeNCOFFEER REGISTRY Haddon-Cave (FS).

INDEX

PA

Action Take...

2.

I would comment:

No 1 G

(a)

such a limited response is hardly encouraging when viewed against the expectations of a technical dialogue where anticipated that differences might be alleviated;

it was

Whea

faul's

(b)

we asked if there were any doubts as to the Secretary of State's views on public expenditure; as there has been no response we can assume that it is fully understood;

(c)

we have drawn an inadequate response as to the priorities in their eyes between the various means of deficit financing reference to elsewhere;

merely a

Rel.to FIFA

(d)

3.

equally we have drawn no response on our suggestion for an alternative budgetting procedure whereby new expenditure planned could be developed and costed independently from revenue rather than treated as a residual to be afforded if revenue permits.

Understand! from Econ they bel

You may wish to have these points in the back of your mind for your forthcoming visit. If you would like me to renew our attempt to get a real dialogue going perhaps you will let me know.

Woven Junir

(

Senior Economic Adviser

22 September 1977

Adrian Smith

CONFIDENTIAL

Eboo

k.

157.