Economy: Alan Walters diary [“Opening of Parliament - Queens Speech completely mistaken by Press as indicator Spend Spend Spend”; steel subsidies][released 2012]

Wednesday 3rd November 1982

Opening of Parliament - Queens Speech completely mistaken by Press as indicator Spend Spend Spend

merely wanted more capital less current by LAs [Local Authorities]

Harold Lever - and his Banking Reform but said PM at Franks enquiry had been quite straightforward and did not try to shift the blame to anyone else. HL agreed that Central Banks would prevent liquidity crisis.

Kaiser Steel Co. - Crazy idea from DOI [Department of Industry] to guarantee a loan of $45 m to get an employee take over of 51% of stock - which would then, in return, agree to buy 300,000 tonnes of BSC steel for 3 years! Bizarre indeed - they wanted answer by COB [close of business] today.