Economy: Alan Walters diary (budget) [Hoskyns to stay on. Wolfson can not see budget papers. PM sees memo on interest rates][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:	140
Themes:	Monetary policy, Public spending & borrowing

Tuesday 1st December 1981

JH[John Hoskyns] saw PM and she thinks he has accepted to stay on. Who is to do strategy etc. were questions she was asking. But JH did not agree.

PM agreed to give JH budget papers but said (and KJ [Keith Joseph] agreed) DW [David Wolfson] could not see them since he was POLITICAL and not a civil servant.

PM saw my memo on interest rates - but wants to wait until GH [Sir Geoffrey Howe] returns tomorrow. Memo from FST [Jock Bruce-Gardyne] urges decrease in r [sic: interest rate] and do not overfund.

Michael SANDBERG from Hong Kong Shanghai - suggested he gets onto Banking correspondents and tell them what is going to hit them! Thought that 9% cost of current accounts was very high

Dinner Ferdinand MOUNT, David Hart, Peter Bauer and Shirley LETWIN.