-1993
16:21
FCO PRIVATE OFFICE
CONFIDENTIAL
071 270 2144
F.02
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- A compensation scheme costing a maximum of £39 million at current prices.
- A sterling pension safeguard using your proposed mechanism and with the safeguard rate set at HK$20:1.
My proposed amendment to the SPOS Regulations.
I
5. An important aspect of this package which we should agree on now is the source of funding. In 1988, John Major, when Chief Secretary, agreed that the aid programme would not be a
It is defensible source of funds for the compensation scheme. clearly not right for the costs to fall to the DS vote. therefore propose that the compensation scheme, any liability arising from the pension safeguard, and the cost of the SPOS amendment should be managed by the ODA and funded from the overseas superannuation vote which already meets HMG's commitments in this field.
6.
I am copying this minute to the Prime Minister.
TH
(DOUGLAS HURD)
Foreign and Commonwealth Office
9 November 1993
CONFIDENTIAL
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