Economy: Alan Walters diary (budget) [PM opposes Howe’s plans on tax evasion, is sympathetic to small tax dodgers. Wood insists inflation will balloon][released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS 3/1/1
Editorial comments:	Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking:	Major
Word count:	76
Themes:	Employment, Monetary policy, Pay, Taxation

Tuesday 30th June 1981

Tax Dodgers - PM against GH s [Sir Geoffrey Howe] proposal to chase the large and medium PAYE dodgers. She is very sympathetic to small tax dodgers - thinks it will increase unemployment. TL [Tim Lankester] very upset. I write a memo supporting GH. But why shouldn t the Chancellor be allowed to deploy his resources.

Malabre (WSJ) interview - went well.

Lunch with Geoffrey Wood - still insisting that inflation would balloon to 15%+ in 1981/2.