4. Please would you let me know urgently whether you can accept the revised line proposed by HKG. If you are unable to commit to a revised compensation scheme along traditional lines, is there anything else we could say in respect of compensation which would be seen as positive by the Association? For example, could we tell the Association that HMG, following the consultations held in May, have concluded that the original compensation and incentive scheme should not be pursued; and that details of a revised scheme are now being worked out. We could add that HMG considers that it would not be prudent to release any information on a revised scheme until all of the details have been worked out and agreed in Whitehall. I am not sure whether something along these lines would be sufficient for the Chairman to present to the members of the Association, but it would at least be an improvement on the line which we have already given to him.
Perhaps you could telephone me once you have had a chance to discuss this with your colleagues in the Treasury.
5.
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سو
Nigel.
NC G Whitney
Hong Kong Department
hmt.let.ADM
SLM
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