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On a point of detail, it is mildly encouraging that the Assocation accept our proposal that compensation should be calculated on 1992-equivalent salaries, upgraded by UK inflation; given continuing high Hong Kong wage inflation, use of 1997 salaries would involve much larger sums. However the Association propose that we use the average exchange rate from 1972 to 1991, which would be more expensive than our proposal of the 1991 average. seek to fix a sterling safeguard of pensions at the same level.)
(They will
N J Cox
REGADX/2
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