Archive (Walters MSS)

Economy: Alan Walters diary (interest rates) [Tebbit anxious to enlist Walters in getting low offer to health workers accepted; Wass asks Walters to let interest rates fall lower][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: 103
Themes: Monetary policy, Pay, Trade unions

Thursday 4th November 1982

N. Tebbitt [Norman Tebbit] - anxious to enlist my help in getting the low offer to Health Service wkrs accepted (I had already approved of JV’s [John Vereker] minute to PM recommending that - asked also for my support on new MSC Technical Colleges.

D. Wass asked me to persuade PM to allow interest rates to fall below 9% - usual ER, inflation etc. - but main argument is politically attractive CBI etc.

He said he was not suggesting any fall such as to 5% (as in 1977 etc)

[Kit McMahon very anxious to have lunch with me!]