PUSD//HD
ECONOMIC ADVISERS//HD
ERD//HD
FED//HD
NEWS D//HD
CONFIDENTIAL
PS/LORD CAITHNESS
PS/PUS
SIR J COLES
MR BONE
MR BURNS
ADDITIONAL
4
SIR P CRADOCK (NO 10)
MS D CORNER CABINET OFFICE MR ELSTON BANK OF ENGLAND
MR MCINTYRE HMT
NNNN
PAGE
2
CONFIDENTIAL
157237
MDLOAN
5