Archive (Walters MSS)

Economy: Alan Walters diary [lunch with US correspondents; dinner with BoE governor, argued against fiscal stimulus][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: 166
Themes: Monetary policy

Wednesday 27th October 1982

MS [Michael Scholar] said PM liked my pieces on protectionism

- only reservation was using IDA for pressure on India

Lunch with US correspondents - very patchy lot especially new Wash Post man + Newsweek Chap - wanted to know when there will be an election, what is in her mind etc.

Lord Lloyd - about free trade in technology - put him on to Helen Wallis

Ralph H [Ralph Harris] + Harvey Jones (ICI) on exchange rates

- he can manage if DM 4.00=£1 but not at 4.3 - I made sense to him with expl of low DM.

Dinner at B/E Gvr [Gordon Richardson] + Gvr of Netherlands CB.

Argued powerfully against fiscal monetary stimulus

- man from Mars, large investment in labour

Saving tech + 3.3mn unemployed

Eddie George - tells me he does not agree with many in B/E who see the job as expanding demand increasing output etc. B/E should be primarily the Guardian of the currency.