peeling paint

G'day everyone. This is my first time here. I'm just starting work on one of the bedrooms in a circa 1950's, good old fibro house. Previous owners weren't very good with paint.
From normal movement in the house there are cracks under the picture rails etc with loose paint below them. I'm scraping off what is loose, some spots the size of a twenty cent piece but i'm sure i'll find larger sections as well.

What's the best thing to use as a skim coat, that sands easily, to even up the surface before I repaint. The walls are the old fibrous plaster and some of the paint i have scraped off is down to the plaster surface.

Any advice would be appreciated...........TMW:U


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