depending on the exchange-rate chosen, plus some extra administration costs; but these could be offset by savings in years when the Hong Kong dollar market value is higher than the safeguard rate.
Option H:
HMG to subsidise a private-sector scheme, providing an exchange-rate hedging mechanism over 10 years.
ANNUAL COST:
In 1993/94:
In 1996/97:
[Treasury to suggest basis
for calculation?]
In 2010/11:
Other Variables
Treasury to explain their thinking on date to start making payments.
ats.J
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