TNAG-1848-FCO40-2623-House-of-Commons-Select-Committee-on-Foreign-Affairs-enquiry-1989 — Page 9

37

If exchange protection

would be seen

were int roduced for

overseas

pensioners, the move

as evidence of a lack of confidence in the long term strength/value of the Hong Kong

dollar vis-a-vis other currencies.

38

the

The

Media reaction could be expected to reflect sentiment s of local serving officers and pensioners. justification and equity of exceptional measures for a small group of overseas pensioners would be questioned.

Publicity

39 being.

No publicity is

considered necessary

for the

time

Secretary

Staff

(The Secret ary for the Civil Service, Mr H. GREWAL and the Principal Assistant

(Civil Service) Planning, Mr C. PARKES will attend for this item.)

23 January 1989

COUNCIL CHAMBER

(AP 295/6-C (88) III)