Economy: Alan Walters diary (monetary reform, spending) [Bauer thinks spending out of control - Walters finds no counter-argument; Sparrow thinks monetary reform going ok] [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:	71
Themes:	Monetary policy, Privatized & state industries, Transport

Friday 12th June 1981

Nasty reference in The Economist to a rare burst of effectiveness on Rail Elect [Electrification]. Probably written by Mark Schreiber.

Monetary reform going ok according to Sparrow - interest rate movements were right.

PT Bauer in evening - discussed govt. spending. He clearly thinks it is quite out of control and I have no counter argument. It is. He thinks student grants and AID are prime targets.