Economy: Alan Walters diary [offers Mount head of Policy Unit; oil price fall has limited effect on exchange rates; Bauer anxious to keep Walters in Britain][released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS 3/1/2
Editorial comments:	Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking:	Major
Word count:	183
Themes:	Employment, Industry, Monetary policy, Privatized & state industries, Public spending & borrowing, Trade unions, Strikes & other union action

Wednesday 3rd March 1982

Remarkable that oil price fall has had almost no effect on exchange rates and markets continue to fall.

P/Question about US money supply, interest rates etc. - stupid briefing by Treasury saying that if Volker [Volcker] relaxed money supply interest rates would fall.

Phoned Ferdy Mount about JH’s [John Hoskyns] job - seems interested

Agreed BR should borrow against future EFL to finance the strike - OK, I think

with PTB [Peter Bauer] at Gay Hussar - he is anxious to keep me in Britain - explained about Paddie - but did NOT tell him that she would stay for a K.

Mtg with Robin Ibbs etc about unemployment study - suggested that Adrian Smith help - John Rickard was very negative - v. unlikely to get anywhere and I had best continue to intervene.

Memo on Invergordon to PM - best to close it down, but if not willing to take political flak, we must have a quid pro quo in wage reduction.

Note on Gordon Wilson (MPs) Scot Nat proposal to join OPEC and prop up oil prices.