Downing Street Says » Financial Situation

» Tuesday, October 14, 2008

Financial Situation

Asked if the Cabinet had discussed how high unemployment was expected to rise, the PMS said that the Cabinet did not have a detailed discussion on unemployment. Asked if there was any mention of spending cuts or tax rises, the PMS said that he would not go into a detailed account of the presentation by the Chancellor or the wider discussion. Asked if the subjects were raised, the PMS replied that the measures taken in recent days and the importance of that stability on the wider economy were the subjects discussed.

Asked if there had been any mention of inflation, the PMS said that it was a component of the impact on for example, family budgets, which formed part of the discussion on the consequences of instability and rising global commodity prices.

Asked if there were any plans for a meeting of G7 countries in London, the PMS replied that if we had an announcement on any possible future meetings, we would make it when appropriate.

Asked if the UK Government would offer the same protection to Scottish local authorities as it was offering to English ones, the PMS said that that was a question best directed to the Treasury.

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