Economy: Hoskyns diary (sterling) ["PM's growing concern over high £"; incomes policy in the air]
|Source:||Hoskyns papers (privately held)|
|Editorial comments:||Reproduced from John Hoskyns Just in Time (2000), p164|
|Themes:||Economy (general discussions), Monetary policy, Pay|
Tuesday 11 March 1980
. Lunch at No 10, with Clive Whitmore describing PM's growing concern over high £, liquidity squeeze on corporate sector, level of pay claims and awards. He said that when Gordon Richardson saw GH Geoffrey Howe and MT on Friday night "incomes policy" were the unspoken words lurking below the surface of the conversation the whole time! I stressed to Clive that we'd forecast this from the outset. .