Archive (Walters MSS)

Economy: Alan Walters diary [funding meeting with Howe; PM starts conference speech - worried about cynical pick-up][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: 131
Themes: Monetary policy

Friday 30th July 1982

9.15 Funding Mtg with GH [Sir Geoffrey Howe], Gvr [Gordon Richardson], etc.

Chancellor worried about the summer and does not want to be approached on his holidays etc.

Gvr + I disagree about the need for a new long conventional - Jock B-G [Jock Bruce Gardyne] also - gives the wrong impression of gvt’s determination to keep inflation down - 7% on 2000

Lunch at IEA

PM started the Conference Speech - Ronnie Millar, Gummer + Ferdy [Ferdinand Mount] all very vague + inconclusive

- I told her she should take the high line and concerned with the long run.

- she is very worried about the cynical pick-up - even housing stats seemed to have stopped increasing

But interest rates fell ½ to 11½ this afternoon