Archive (Walters MSS)

Economy: Alan Walters diary [Griffiths congratulates Wlters on low inflation rate; met Denis Thatcher - PM told him “not to be too friendly”][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: 171
Themes: Defence (Falklands), Monetary policy, Foreign policy (USA)

Monday 8th November 1982


PM’s speech looming

Spoke to Brian Griffiths to get him to take on Redvers Opie in City - he was delighted + congratulated me on the low inflation rate

- monetarism works

French M Gaudin, Alphandery, Clement

Great admiration for Mrs T and our reduction in rate of inflation

lunch Bevan Waide - job in Bank to do as I like.

PM speech - I sketch scenario of natural growth to 1965 then forced growth - inflation, low interest rates - wasteful capital etc.

Denis T [Denis Thatcher] came to see me. Said having dinner with Louis [Ambassador John Louis] + Annenberg [Walter Annenberg] - PM told DT not to be too friendly

- being kicked in the teeth (Argentinian UN vote)

Littlechild on BT regulation - Kleinworks do not like it - a step in the dark - prefer know failures like Electicity + Railways

- regulation of costs efficiency etc. would be disastrous

D. Harts for dinner - Hazel ill but came eventually