Wednesday 9th December 1981
Stupid MTFS draft by Burns showing £M3 as primary target.
Nissan - PM and PJ [Patrick Jenkin] want 80% British content
But this is a QUOTA restriction and BAD
Lunch with PM for Michael Alexander - great argument about expenditure by Foreign Office on Paris and Washington embassies defence was weak
5.50 GH [Sir Geoffrey Howe] lambasted by PM about interest rates and indexed gilts. GH still does not want to issue indexed gilts.