of trying to improve the scheme at this late stage as we have already agreed the main assumptions which underlie it with the Treasury. However, if No10 ask for any further views I think we can make more of the argument that this scheme, even with a 16:1 rate, is far from generous when compared with earlier schemes.
ри
N C G Whitney
WH 304 270 2651
3 February 1993
cc Mr Morris
Miss Paris
ster.schem.ADM.JRB
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