Mr M Stone
HK Department/FCO
Reference
Covering CONFIDENTIAL
File
From: D S FISH
(Ext 3444)
Date: 8 August 1991
HKB 233/1
cc Mr J V Kerby
115.
HONG KONG: HMOCS MATTERS
1.
Qu
APPROACH TO THE TREASURY
As we agreed I have reviewed the draft letter to the Treasury, enclosed with your note of 23 July.
2. Please find enclosed a possible alternative which is rather shorter and to which I have added something on the way SPOS operates for Hong Kong pensioners. You will see that I have assumed Treasury agreement on compensation and merely provided an update of our plans and expected costs.
3. We know that the initial Treasury reaction will be to push as hard as possible for Hong Kong to pay: I think, therefore that the covering letter should contain a full and up-to-date explanation of why you believe this to be impossible. Also I think that you should add to the section on sterling safeguards a reference to previous discussions with the Treasury and an explanation of why the various options explored have proved to be impracticable. I am far from certain that our files contain the full story on this.
4.
You said that you would now discuss the two drafts with Nigel Cox and let me have a copy of the 'final' version as soon as possible; we both need to consult our Finance people before the letter issues.
Борис
D S FISH
Overseas Pensions Department
8 August 1991
Covering CONFIDENTIAL
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