Economy: Alan Walters diary [Middleton thinks Burns has gone over the top; Tebbit’s wage council plans rejected][released 2012]

Tuesday 26th January 1982

Unemployment > 3,070,000

All fun and games in the House

Peter Middleton phoned about Burns paper - thinks TB [Terry Burns] is Wagnerian in his forecast M1 figures. He has gone over the top.

MS [Michael Scholar] shows me Cabinet Paper prepared by GH [Sir Geoffrey Howe] - much better.

MS shows me deletions from Burns Speech - “Revenue rising faster than spending” etc. - then wets would have a field day.

AS [Alfred Sherman] Peter Cropper at CPS - discussed possible [sic]

Linda Rouse

Wasseman (WMG’s student)

E on Wages Councils - Tebbit’s “Percentage for youth” solution was rejected in favour of elevating all youths to 18 or 22? + part timers. Denounce FWR too (That affected Brit Ship builders, Short Bros, Halane + Wolf)

JP [Jim Prior] “Not worth the trouble it would cause by unions”

- stupid argument about “below std wages” etc. does not appreciate that it means jobs - but Brittan did.