TNAG-2251-FCO40-3235-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-fina-1991 — Page 72

Mr Cox

Reference

a

VALUE FOR MONEY

M

1. You will no doubt have seen the recent press reports on the Government's proposal to go ahead with a £2.8 billion (HK$36 bn) improvement to the M25. This figure is not unadjacent to the cost of Hong Kong's new airport.

2.

It would be interesting to know what economic appraisals and studies on the return of the capital employed, the Treasury have done. I think we should be told.

m?

Pq

M Stone

Hong Kong Department

WH 304

270 2651

6 September 1991

CC: Mr Broadbent, Economic Advisers

Mr Stone

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сова

CODE 18-77!

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U. Mr Cox