cst.ps/dr/22mp8.11
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سلية
We discussed. For advie
CHEF SECRETARY
TO THE
TREASURY
perce
cc.
PSX2
P/N Goodland
Treasury Chambers, Parliament Street SWIP 3AGPS/CUS
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The Rt Hon Douglas Hurd CBE MP
HUA 233/1
L
8V 1993
Secretary of State for Foreign & Commonwealth Affairs
Foreign & Commonwealth Office King Charles Street
London
SW1A 2AH
Sir J. cous
For Hur
да
Dear Secretary of State,
8 November 1993 Sutmissie
Reph issuing today
HONG KONG HMOCS: PENSIONS AND COMPENSATION
30.
9/4
The Prime Minister has asked that we should settle the package for Hong Kong HMOCS by Wednesday. We must therefore reach a quick agreement.
The Cabinet Office paper commissioned earlier this year illustrated objectively the differences between us on each
2.
element of a package:
Compensation scheme
Pensions safeguard
FCO
Full factors Max. cost: £46m
Level: HK$16:1 FCO mechanism
Max. cost: c. £250m
Treasury
Half factors Max. cost: £32m
Level: 26:1 HMT mechanism
Max. cost: c. £100m
SPOS
3.
Amend regulations
Cost: c. £1-2m pa
No case for amendment
No cost
The Cabinet Office paper pointed us in the direction of splitting the difference when it suggested in its concluding section that Ministers would wish, among other things, to consider whether some intermediate arrangement between our positions would be acceptable. Given the Prime Minister's directive, I am indeed prepared, as far as we can, to split the differences between us.
No comments yet.
Private notes are available after approval.