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153574
MDHOAN 1106
THE IDEA OF A SET-ASIDE FUND FOR CIVIL SERVICE PENSIONS. (IF THEY REACT ON THESE LINES, WE MAY EXPECT TO ENCOUNTER STRONG TREASURY OBJECTIONS TO OUR PROCEEDING UNILATERALLY TO CONSULT HMOCS OFFICERS ON THE SEVERANCE SCHEME: THE PACKAGE APPROACH HAS MUCH TO COMMEND ITSELF TO THE TREASURY, AND THEY WILL WISH TO BE CLOSELY CONSULTED ON ANY FUTURE DISCUSSION ABOUT SET-ASIDE. PARTICULARLY IN VIEW OF HKG'S HEALTHY RESERVES POSITION THEY CONTINUE TO BELIEVE THAT HMOCS OFFICERS' CONCERNS ABOUT THE STERLING VALUE OF THEIR PENSIONS COULD BE ADDRESSED IN THE CONTEXT OF WIDER ARRANGEMENTS FOR HONG KONG CIVIL SERVANTS GENERALLY, EG A COMMERCIAL LOAN SCHEME WITH SUBSTANTIAL HKG PUMP-PRIMING, PERHAPS PARTICULARLY TARGETED AT HMOCS OFFICERS).
9.
SEE MIFT.
HURD
YYYY
ΜΑΙΝ
26
HKD
FED
NEWS D RMD
DISTRIBUTION
29
PS/LORD CAITHNESS
SIR J COLES
MR BURNS
ADDITIONAL
3
LEGAL ADVISERS//MISS BROOKS
ODA//MR FISH
ODA//MR KERBY
NNNN
PAGE
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