4.
The exception to all this is Peking, where it is estimated that
cessation of Hong Kong visa work will liberate 2 x DS10, 2 x LEIII
and 1 x LEIV posts.
Most of the visas concerned are issued to
holders of Chinese official passports, who receive them gratis.
value of fees waived in this way in Peking is estimated to be in
excess of £650,000.
However, even allowing for the Peking operations, it is clear
that at present revenues overall greatly exceed costs.
5.
The
6. The arrangement with Hong Kong (and with some other Dependent
Territories) is a reciprocal one; the Hong Kong Government issues
some 46,000 entry clearances a year on behalf of the UK at no cost
to us but for which it retains the fees. The costs of running our
own visa issuing operation in Hong Kong after 1997 will probably
negate any savings from the cessation of our visa issuing operations
on Hong Kong's behalf. On the revenue side the substantial loss of income from issuing Hong Kong visas will be compensated to some
extent by the income from our own operation in Hong Kong. However,
we anticipate a substantial reduction in profits. This will make it
all the more difficult to attain present Treasury VFM targets.
всё
M J Peart
CL408
270 4019
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