| Description | Includes: notes and correspondence on the Bank's income, profits, projections, dividend and reserves; drafts of accounts; notes of meetings with the Treasury (HMT); extracts from Court Minutes and Committee of Treasury Minutes; notes of internal Bank meetings; notes on negotiations; notes on appropriate level of free capital and reserves; Letter from Nigel Lawson concerning the Bank's agreement to the formula by which the payment in lieu of dividend would be one third of pre-tax profits for the five years from payment of the 1983/4 dividend; a subsequent changes in Corporation Tax announced in the 1984 budget led to renewed discussions about the formula; cash ratios; note on Payment in Lieu of Dividend, outlining the problem, proposals (from Bank and Treasury), comparing the proposals and recommending options. |