Archive (Walters MSS)

Economy: Alan Walters diary [convinced PM on funding][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: 139
Themes: Monetary policy

Thursday 5th August 1982

PM on funding - convinced her of need for some conversion - at least no more long dated conventional stock - and we should buy in long term and issue shorts and IG’s [Indexed Gilts]

Lunch with Geof Pattie (Junior Minister of Defence) Paddie (Air Vice Marshall) - Alfred S. [Alfred Sherman] - issue of economist in the DOD - I suggested Nigel Wicks

D. Serpell - pressed to deliver in early November - SOS concerned with immediate 82/84 - money is it right?

Long term is a secondary issue - but Alfred G [Alfred Goldstein] thinks LT is what really matters and I agree.

- only cost cutting to 82/84 - need to evaluate

Peter Middleton says that we sold £600m or so - all August funding done - IG’s sold out - 2011