Friday 22nd October 1982
Discussion about Sir Antony [sic: Anthony] Parsons, for it is he, who is to take office opposite. Robin [?Robin Butler] wanted to know how I worked since I am the model! But depends on own contracts etc.
Gordon Pepper for Lunch - they did swap operation of £120 I/gilts [Indexed Gilts] for conventional longs
£500 mn IG authorized
PMid [Peter Middleton] - discussed budget proposals to reduce PSBR 2% + ½ NIS
£3 Bn poss.
£1 ½ Bn earmarked for thresholds (min)
RDG’s move forward
£150m Electricity prices - next April - just right
£200m - forward payment of bills
£225 Deferment of duty on wines & spirits for four weeks
Switch engineering [words unclear]
Dow + Fforde McMahon have argued that Gvr [Gordon Richardson] should have said that a PSBR of £20Bn was needed to get economy moving - Gvr did not but there were many codewords
[23-24 October entries blank]