Economy: Alan Walters diary [Cockfield memo on trade policy - aim for open trading system; Middleton believes no need to increase base roots through new year][released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS3/1/2
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:	Monetary policy, Trade unions

Monday 13th December 1982

Some pressure in Far East

ER85.8 Gilts ↓ 1.00 7 day 3m 1015/16 - 1013/16

Not much change in spite of U.S. money supply figures being good.

Memo on Trade Policy - E Cttee memo by Cockfield said we aim for open trading system - then went on to suggest [sic]

McAnally Montgomery - Gilchrist (Union Discount) thought that there should be another 1% on base rates - Bank was fighting too hard - I told Gilchrist that a fall in US rates would relieve the pressure -and I ex [sic]

PM a bit panicky on the Production Index

- rather depressing - speaking to a group of G + G [?Great and the Good; MT engagement diary shows her dining with The Parlour at Claridges, 2000]

AG [Alfred Goldstein] decided NOT to sign Serpell Report although great pressure is being brought to bear on him.

Peter M [Peter Middleton] thinks we can make it through to New Year without increasing base rates

Note on Trade Policy