Lawson's 'giveaway' budget was the latest in a long line of Chancellor blunders; this one fueling a growing economy that subsequently over-heated with property price and interest rate hikes the aftermath
Lawson's 'giveaway' budget was the latest in a long line of Chancellor blunders; this one fueling a growing economy that subsequently over-heated with property price and interest rate hikes the aftermath

A worrying start to the day as the river was up, a gale was blowing, and we needed to secure Daniel’s boat for safe-keeping. Then the rest of the day balancing commitments for my local history project with meetings in Cambridge with political colleagues pledged to help me with my campaign. Lawson’s ‘giveaway’ budget helped the better off to the detriment of the poor and there was no more NHS money and that was met with a stormy reception in the House. South African plans for executing blacks is being opposed by their international friends and more trouble in Ireland and Panama

Another fitful night’s sleep and awoke early to find the river up, gale blowing and Daniel's boat looking distinctively threatened. Had to insist on Daniel going out to secure it and, even then, I had to shout further instructions to him as he was not doing it properly! After getting showered and dressed, I went to my office to do some last-minute copying and then telephoned round to get information for today’s Cambridge meeting. All ready then and so off by car to rendezvous with Di’s parents for coffee. Her Dad is quite good with Daniella these days and they made quite a fuss of each other. Then to buy some more letraset and to the library for some space to map out my name in larger print. I also secured a loan copy of the Cambridge Structure plan, before striding off to the Copper Kettle for my rendezvous. Moira Biggins arrived on time, but John Mathewman was a half hour late!

A good, if hurried, meeting and action agreed, but I had to rush back to see Mr & Mrs Thorpe of The Old Post Office. Nice to meet them and review the cottage history and they will let me put some posters up as well! An evening organising phone calls. The Budget speech was made late today, against a background of heckling and demonstrations in the House, with the sitting suspended for 10 minutes at one point. Lawson cut 2p off Income Tax to 25p and abolished the 45-60% higher tax rates, so that the rate of 40% is the maximum now applicable. Personal allowances are up by twice the inflation rate, as with married allowances etc. The tax discrimination against married women is ended. A lower corporation tax for smaller business and an easing of capital transfer and inheritance tax incidence. Tax loopholes of company cars and forestry are being closed. The overall gains for the rich are very high and the poor very small. There was no more money for the NHS and health workers are bitter and disappointed. Thatcher and Reagan have contacted Pretoria to ask for clemency for the ‘Sharpeville Six’ who are due to be executed soon. More demonstrations in Ireland as the funerals of the three dead IRA people are planned for tomorrow. Mass confusion in Panama as the intra government fight continues and riot canons and tear gas are brought into play.