Downing Street Says

Asked for the Prime Minister s take on reports of a split between the Treasury and No 10, the Prime Minister s Spokesman (PMS) said that we did not recognise reports of a split and that the Chancellor would take the necessary decisions on the fiscal stimulus in the Budget. The PMS went on to say that although people were focused on the fiscal stimulus at the moment, it was important to point out that the Prime Minister was talking to G20 leaders about the other measures that G20 governments could take to stimulate their economies, including through monetary policy and through intervention in financial markets.

Asked if that meant that the Prime Minister was giving less of an impetus to the fiscal stimulus, the PMS said that we had always made clear that it was important to address not only fiscal measures but also monetary policies and other measures.

Asked what the PMS meant by intervention in financial markets, the PMS said that we would do what we could to assist the lending from, and between, financial institutions, which included schemes like the Asset Protection Scheme.

Asked if the Prime Minister was saying to G20 leaders that the UK rescue plan was something other G20 countries should follow, the PMS said that it was for each government to decide what was appropriate for its own economy, according to its own circumstances. We had done what was right for the UK economy and the challenges that our businesses faced, and other governments would do the same for theirs.

Asked if the Prime Minister had been in touch with the Governor of the Bank of England or the Chancellor while on his trip, the PMS said that the Prime Minister was in regular contact with both the Chancellor and the Governor. There were no further details regarding calls in the last twenty-four hours.

Asked which fiscal stimulus the Chancellor would take decisions on at the Budget i.e. the last one or the next one, the PMS said that we had set out a programme in the Pre Budget Report that included significant investment in infrastructure and other areas, which constituted a fiscal stimulus. We said yesterday that fiscal decisions would be properly set out by the Chancellor in the Budget.

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» Wednesday, March 25, 2009

Economy

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