Α
1. um
FROM:
A R Paul
DATE:
HK B 431 14
CO1990
Hong Kong Department
28 November 1990
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CC:
Mr McLaren
Tinke
you. int Tim
Mr Burns
PS/Lord Caithness
MP'S LETTER: HONG KONG HMOCS PENSIONERS
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307
1. To reply to a letter from Mr Keith Speed MP, enclosing one from a constituent about the position of Hong Kong HMOCS pensioners.
Recommendation
I recommend that Lord Caithness replies along the lines
of the attached draft letter. ODA and the Treasury agree.
2.
Background
3. As Lord Caithness is aware, Hong Kong HMOCS pensioners who have retired to this country have become increasingly concerned about the erosion in the value of their pensions, as a result of the depreciation of the Hong Kong dollar against sterling. These concerns have become more acute in
recent months, following the sharp fall in value of the US dollar (to which the Hong Kong dollar is linked) and
sterling's entry into the Exchange Rate Mechanism.
JONAFL/1
92
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