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Archive (Walters MSS)

Economy: Alan Walters diary (unemployment) [unemployment study - “pretty dreafdul state”; very worried about indexed gilts][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: 82
Themes: Employment, Monetary policy

Friday 19th March 1982

PM at Chequers with Smidt [sic: Helmut Schmidt]

Unemployment Study - still pretty dreadful state - wrote sharp note to Ibbs.

IG [Indexed Gilts] 1988 stuck at 97Y and sold £50m

- dreadful since yield is less than secondary market 1998 so why tender for stock?

Middleton was scared that going much below 95 or so would only sell another £20m - but that is not the point

Am very worried about all this - needs careful thought