Economy: Alan Walters diary (budget) [commends Minford article; signs of recovery in all industries. Employment subsidies “promote systematic unemployment”][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:	53
Themes:	Employment, Monetary policy, Public spending & borrowing

Tuesday 16th June 1981

Minford wrote very good piece on unemployment showing that higher PSBR gave only transitory relief.

PT Bauer and David Hart to lunch.

Signs of recovery in orders in all industries. Wrote a note on Richard Layard s employment subsidies - it seems designed to promote systematic unemployment. 6m on the dole. 12m at work.