Monday 8th November 1982
Run
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