Downing Street Says » 10p Tax/Financial Services Paper

» Wednesday, July 8, 2009

10p Tax/Financial Services Paper

Asked if the Prime Minister felt it was a bit over the top to suggest that if the Government had lost the 10p Tax vote last night then the whole economy could have gone down the pan, the PMS said that the Prime Minister had set out his views on the Finance Bill last night; we had taken positive action in relation to people affected by the change to 10p tax and we believed the best and most affordable way to provide support was through those actions we set out in the Pre Budget Report and the Budget.

Asked about the Financial Services Paper, the PMS said that the Government had set out the reasons behind the Treasury paper and other action that we had taken both in the UK and at an international level as Presidency of the G20, on strengthening and reforming the system so we were better able to prevent the kind of threats to the stability of the financial system that led to the global recession.

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