Economy: Alan Walters diary (budget) [disagreements over MTFS with Burns][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: | 87 |
| Themes: | Executive (appointments), Monetary policy, Public spending & borrowing, Media |
Wednesday 25th November 1981
Alan Bailey
Burns vs CPRS - great confusion over MTFS
I prepared a paper showing that MTFS does no such thing. Burns seemed to regard inflation rate as exogenous and therefore any squeeze applies to real output - and so lays himself open to this charge by William Keagan
Bernard Ingham very worried about what to say!
Ian Gow says I must stay longer than 2 years.