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.