SECRET
"Misccud so
RECEIVED IN REGISTRY
17 SEP 1984
DESK OFFICER
INDEX
PA
REGISTRY
Action Taken
revyuzilu
82
GRS 200
SECRET
FUTURE EGRET
FM HONG KONG 15114OZ SEP 84
TO IMMEDIATE F C O
TELEGRAM NUMBER 2855 OF 15 SEPTEMBER
INFO IMMEDIATE PEKING
MY TELNO. 2833 AND YOUR TELNO. 1818 : FUTURE EGRET :
PART 3 OF THE WHITE APAPER.
1. FOLLOWING IS THE DRAFT TEXT OF THE SECTION OF THE WHITE PAPER ON THE FINANCIAL SYSTEM:
BEGINS:
FINANCIAL SYSTEM
(SECTION VI ANNEX 1)
THIS SECTION ENSURES THAT THE GOVERNMENT
OF THE HONG KONG SAR WILL BE FREE, AS THE PRESENT HONG KONG GOVERNMENT IS, TO DETERMINE ITS OWN FISCAL POLICY AND TO MANAGE AND DISPOSE OF ITS FINANCIAL RESOURCES IN ACCORDANCE WITH HONG KONG'S OWN NEEDS AND WITHOUT ANY REQUIREMENT TO REMIT REVENUE TO THE SOVERIGN POWER. THERE IS A FURTHER GUARANTEE OF CONTINUITY IN THAT THE PREDOMINANT AUTHORITY OF THE LEGISLATURE IN FINANCIAL MATTERS, AND THE SYSTEM FOR INDEPENDENT AND IMPARTIAL AUDIT OF PUBLIC ACCOUNTS WILL ALSO BE MAINTAINED.
THIS MEANS THA THE RESPONSIBLE AND PRUDENT BUDGETARY POLICIES WHICH HAVE PLAYED SUCH AN IMPORTANT PART IN HONG KONG'S RECORD OF ECONOMIC SUCCESS WILL CONTINUE.
YOUDE
LIMITED
HD/HKD HD/FED MR BOYD
SECRET
COPIES TO:
SIR P CRADOCK MR BICKFORD,
2
LEGÁL ADVISERS
MR FITFOOT, SIR E YOUDE, K195A
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