Economy: Alan Walters diary (budget) [PM very confused about interest rate and money supply bands][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:	68
Themes:	Monetary policy, Public spending & borrowing

Friday 31st July 1981

E Nat Industry bids for £2.5 Bn.

Leon Brittan suggested £750m to be done on an individual basis, not across board. JP [Jim Prior] confused by the figures. JP arrant nonsense about crowding out. Leon answered him

Monetary Seminar - agreement - PM concerned with trivia (how to say MLR [Minimum Lending Rate] is no more) and very confused about interest rate bands and money supply bands.