15 DECEMBER 1984, Page 21

Blow hot, blow cold B y the fire at 11 Downin g

Street, Nigel 1–,P Lawson kneels. He is posting letters up the chimney to Santa. 'Dear Father Christmas,' they run, in that vigorous cursive hand, 'if you love me at all, send me a great big blizzard, to settle down as three months' permafrost on the northern hemisphere, everywhere except here. Here, please, make it rather mild for the time of year. N.L.' A mild British winter is what we need for our coal stocks. But a cold northern winter is what we need, as de facto members of Opec, to sell our oil, and hold our shaky cartel together, and keep the price, and the pound, and the revenue, from cracking. If the Chancellor can pull off the double, he will be seen to have influence in even higher places (such as Greenland), and there will be no stopping him. What does he use for his fire?

Christopher Fildes