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1982 Nov 22 Mo
Archive (Walters MSS)

Economy: Alan Walters diary (inflation) [PM very concerned at decline of pound; monetary stance has changed in US; keen on persuading Reagan to cut deficit by increasing taxes][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: 137
Themes: Monetary policy, Taxation, Foreign policy (USA)

Monday 22nd November 1982

PM missed me!

PM very concerned at decline of £ - down to 86.5 and DM 4.02 - Jock BG [Jock Bruce Gardyne] (on Scottish Speech) panicks [sic] - wants to increase r - No - let it go - PM’s confidence restored

Tell PM about US visit. Monetary stance has changed - new political alignment more serious than numerical change of seats

De Larosiere (Chairman of IMF) on Mexico (doubling of VAT) - asks for agreement of banks (1,600) to expand commitment by 8% - then IMF will agree to go in.

Want GH [Sir Geoffrey Howe] as Chariman of Intern Cttee 13/22 votes

Keen on PM persuading Reagan to cut deficit by increasing taxes (Reagan had been trying to advance tax cut from July to Jan)

Phoned Shahid Hussain + Personnel