Economy: Alan Walters diary (budget) [PM insists on housing tax relief or will fire Howe; Walters desires stamp duty abolished][released 2012]

Monday 22nd February 1982

9.30 PM about budget - OK on NIS 1% but insists on £35,000 for housing boom tax relief. Caroline [Caroline Ryder], Carol [Carol Thatcher] etc.

have told her that all houses cost £35,000 or more. She said if GH [Sir Geoffrey Howe] would not do it she would fire him. She would put down an amendment in budget debate!!

Ambassadors Burns + Louis

Saw PM again - still adamant about 35,000. I said best if Stamp Duty were abolished, but she would not have it.

Lunch with Arthur Burns - he gives good prognosis for UK. Smidt [sic: Helmut Schmidt] is out of touch with his party and would be a better leader of CDU. PM does not think much to [sic] Kohl. Burns worried about unemployment and potential extremism in Germany. Vast structural changes taking place.

Tony Churchill [World Bank]

Prepared paragraph on Eire (“there but for the grace of the blessed Margaret we go”) for Engineering Emp Fed Sp) [Engineering Employers Federation speech]

Drink with Ian Gow, Richard Page, AS [Alfred Sherman], Boyson etc.

Dinner at US Embassy - sat next to Dr Smidt (female with no bra) and old Mrs Burns. KJ [Keith Joseph] also a pompous ass Kenneth Harris (Observer).