Thursday 28th January 1982
Wed InfTech Year 9 Dec [in red crayon] Wed
10.20-1.00 Cabinet on Budget - excellent meeting with GH [Sir Geoffrey Howe] triumphant at end - all valuable views - thrust of policy confirmed.
PM delighted - only Jim [Jim Prior] topped PSBR stakes with 11½ Bn
Everyone is in favour of NIS reduction [National Insurance Surcharge].
Lunch with Gvr Connolly [presumably former Texan Governor & US Treasury Secretary, John Connolly] and Peter Tapsell.
Phone Fforde about another reduction in interest rates. Stg [sterling] very high and advancing (91.6). He agrees we review after the US money supply figures and M3/M1.
Peter Middleton agreed - and will talk to GH.
Gt [Great] + Japan Exhibition Albert Frost (on Bd of BSC)