» Friday, November 14, 2008Banking
Asked how the Prime Minister could square the news that there would be no Government representatives on the boards of part-nationalised banks, which was in contrast to comments made by the Chancellor in the House of Commons, the PMS said he did not think that there was any contradiction. We made clear at the time that we would operate at arms length and that we would still operate influence over the banks, that we agreed the conditions of government assistance but that the mechanism for ensuring that the agreement was adhered to was arms length. Asked if he was saying that the Government never suggested that there would be Government representatives on the boards of banks, the PMS replied that on the specifics of the Chancellor s statements, he would refer people to the Treasury. We had always made clear that we would exercise arms-length control. Briefing took place at 11:00 | Search for related news Original PMOS briefings are © Crown Copyright. Crown Copyright material is reproduced with the permission of the Controller of HMSO and the Queen's Printer for Scotland. Click-use licence number C02W0004089. Material is reproduced from the original 10 Downing Street source, but may not be the most up-to-date version of the briefings, which might be revised at the original source. Users should check with the original source in case of revisions. Comments are © Copyright contributors. Everything else is © Copyright Downing Street Says. |
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