Economy: Alan Walters diary (budget) [note for PM on redundancy payments in Universities - suggests freezing incomes for 3 years. Complaints Howe has to approve everything][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:	93
Themes:	Higher & further education, Monetary policy, Pay, Public spending & borrowing, Media

Friday 18th December 1981

Note for PM on redundancy payments in Universities

£200m vs £100m if they do it as an offer.

I suggest freezing incomes for 3 years!

1.00 Lunch with Alfred [Alfred Sherman]

4.00 Bank Fforde v. worried about PM putting pressure on to reduce interest rates. They are OK operationally 86>ER>92 [sic]

6.15pm - Nick Ridley and Jock [John Bruce-Gardyne] complain that GH [Sir Geoffrey Howe] has to approve of everything. GH no good at all at speech making - no structure . Prepare an agenda for meeting.

Julie and Brian to dinner.