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Archive (Walters MSS)

Economy: Alan Walters diary (budget) [lunch with PM; talks with Middleton and Burns; Canada Club Dinner][released 2012]

Document type: Declassified documents
Source: Walters MSS (Churchill Archives Centre): WTRS 3/1/1
Editorial comments: Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking: Major
Word count: 105
Themes: Employment, Monetary policy

Wednesday 11th November 1981

Brief 15 mins with PM on speech.

Gordon Pepper says monetary policy was much better than anyone imagines.

Lunch with PM in flat - she wants to do contrast with 1950 s - very wild and inconclusive.

Middleton + Burns - we agreed on mainly M1 for target and nominal GNP for aggregate targets, but agree to talk to Jock [John Bruce-Gardyne] and Nick [Nick Ridley] - need to convert them.

Canada Club Dinner - Carrington v. gloomy - being told by Earl of Airlie (Schroder Wagg) that things are very good - except for unemployment.