Economy: Alan Walters diary (interest rates) [Middleton gets Howe to agree to reduce interest rates][released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS3/1/2
Editorial comments:	Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking:	Major
Word count:	91
Themes:	Monetary policy

Friday 29th January 1982

“Economist” gave account of budget etc. similar to me.

- excellent budget last year - provided interest rate cuts and expansion in mid year.

LSE 11.30 - talked about M1, M3 etc.

Lazard’s [or Layard’s?]

Peter Middleton - got agreement of GH [Sir Geoffrey Howe] to interest rate reduction. OK

MTFS [Medium Term Financial Strategy] - we agreed on PSL2 tight figures in TB’s [Terry Burns] draft 7-12 6-11 5-10 or so.

He will sell it to GH and then we can foist it as GH’s recommendation.