Economy: Alan Walters diary (budget) [E-committee. need to start new steps on monetary control][released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS3/1/1
Editorial comments:	Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking:	Major
Word count:	168
Themes:	Monetary policy, Pay, Public spending & borrowing, Media, Trade unions

Thursday 29th October 1981

Great secrecy pledged on E s TU discussion - but all out in the Press. Times said leak was through IOD - but probably mischief making.

Lunch in Lords with Danniel [name doubtful] YQUEM Agence France.

E Committee on Bank Takeovers - not reached - TU law reform - Hailsham and Prior argued that now persons can be sued and union pays fine - but martyrs and v. different if union is in the dock is sticking point. Hailsham, Prior, Walker do not want to move at all - unless they can be sure that no govt (Labour) will not overturn it - permanent etc.

Tebbitt [sic] v. good and fair - Law would do good if it prised loose the workers from the unions. Shy of the union only contract because of diff of enforcing at 1319 sites.

We need to start new steps on monetary control.

- Write memo to PM saying we should go towards M1 or M0 control for interest rates.

Middle Temple Dinner with Roskill