Downing Street Says » Prime Minister’s meeting with City Leaders

Asked if the meeting tomorrow was the one the Prime Minister had referred to last week in his interview with the BBC, the Prime Minister’s Spokesman (PMS) said no and that one of the Sunday papers had erroneously reported on this subject. The Chancellor would have a meeting with the Council of Mortgage Lenders and the main mortgage lenders, which would probably take place next week. The Chancellor was in China at the moment and for most of the week. The Prime Minister’s meeting tomorrow was with a much wider city group; it was more of an informal breakfast meeting of the type that he had from time to time and they would be mainly discussing global financial issues ahead of the Prime Minister’s meetings with people in Wall Street on Wednesday.

Asked if there was a cast list for the meeting with city leaders and what the Prime Minister would be saying, the PMS said that he did not have a specific cast list to hand but, as far as we were concerned, this was more of an informal meeting that the Prime Minister had from time to time to hear the perspective of people in the city regarding what was happening in global financial markets at the moment.

Asked if this meeting could be described as a crisis meeting, the PMS said that he would not describe it in those terms at all. It was the sort of meeting that this Prime Minister and previous Prime Ministers had as a matter of course. There was a separate meeting, as mentioned before, to discuss the specific issues in relation to the mortgage market that the Chancellor would have next week.

Asked if the meeting would only be attended by people in the city, the PMS said that there would be representatives of retail banks and investment banks; the sort of people who represented institutions that contributed a significant amount of income and employment to this country.

Asked if lobby groups would be there, the PMS said that he did not have an exact cast list but that it was a fairly routine, wide-ranging breakfast with people from the city. It was the sort of thing that the previous Prime Minister had done from time to time and the sort of thing this Prime Minister had done when he was Chancellor.

Asked when the last meeting had taken place, the PMS said that the Prime Minister met people from the city all the time.

Asked when this particular meeting had been arranged, the PMS replied that it had been in the diary for some time. The Prime Minister was meeting people in Wall Street during his trip to the US and in advance of that he wanted to take stock of the situation as perceived by people in the city.

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» Monday, April 14, 2008

Prime Minister’s meeting with City Leaders

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