TNAG-2428-FCO40-3530-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1992 — Page 53

2'd

HKA 233/1

S1851\gr1

To: From:

cc:

1.

Nigel Whitney; HKD

David Hughes; GAD

R T Foster; GAD

3 November 1992

HONG KONG HMOCS STERLING SAFEGUARDS

I

Thank you for the faxed draft of your options paper. have not looked in detail at the draft itself. However, I enclose the cutlines of 4 tables and the titles of 5 graphs that could support the paper. Will you please circulate them with the draft? This material will take a few days to prepare. Please ask colleagues whether any of these tables or graphs can be dropped.

2. You could introduce the results in option A with words as follows: "The costs to HMG of all the options depend on future HK$:UK£ exchange rates. Estimated costs for option A are shown in Table 1, for a range of alternative assumptions about future exchange rates. Graphs 1-3 show the likely timing of expenditure on option A, for alternative assumptions about future exchange rates."

INWIYUDJA SUNLOU INAWNYGAOS 9:91 26. E0 AON

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