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interests, could pose some risk for their language teaching courses
in the early years if a rent based on the Treasury formula for
economic return on capital forced them to put up their fees before
they had fully established themselves in their new location. A
regular eht review procedure, with some indexing formula, may be
the answer. We expect to find a formula, satisfactory to FCO,
British Council and to Treasury, which could in due course become
incorporated into the Memorandum of Terms of Occupation (MTO) to
take effect from 1 July 1996.
[10. I trust that paragraphs 8 and 9 above clarifies the situation
and sets aside your concern that the British Council would gain an
extra subsidy which would effectively increase their grant in aid.
If you require further information please let me know.
11. This letter has been seen and agreed by RFD and our Economic
Advisers.
AD Smith
PPU/OED
PJADS1.92
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