31 MARCH 1990, Page 31

Out to lunch

LUNCH has an almost mystical import- ance in the City, and the state of the lunch-book is a leading indicator. It is therefore baddish news for Mrs Thatcher's Government that City friends of mine thought the other day that it might be both pleasant and prudent to ask John Smith to lunch — and worse news to find that he is booked solidly for lunch until October. One consolation still presents itself. I see no sign as yet round the City lunching circuit that people have begun to ask Michael Heseltine.