Downing Street Says

» Tuesday, August 28, 2007

Economy

Asked if there was a view from Number 10 about the best way to help stabilise the global financial markets, the PMS replied that the view from Number 10 was that the Treasury were in the lead on this. They had set out the Government’s position and that was the best way to deal with these issues.

Asked if there was any reaction to the Corporation Tax figures out today, the PMS replied that there was no specific reaction from us. Clearly measures were taken in the last Budget to simplify the Corporation Tax regime. Clearly action had been taken over many years to ensure that individuals and companies who should be paying tax, were paying tax. But on specifics it was better to speak to the Treasury.

Put that reports this morning show enormous growth in the ratios of earnings within certain industries, particularly hedge fund managers and private equity firms, and asked what the best was to approach this was, the PMS replied that the matter of awarding bonuses was a matter for employers rather than the Government. The City of London was a great strength for the British economy and clearly we would not want to do anything that would put this at risk.

Put that this was not simply a matter of economics, the PMS replied that lots had been done in terms of the reform of the tax and benefits system to improve the earnings and work incentives for people at the lower end of the income scale. And we would continue to take these forward.

No Comments »

No comments yet.

RSS feed for comments on this post.

Post a public comment

Name (required)
E-mail (required)
(You must give an email address, but it will not be displayed to the public.)
Website
(You may give your website, and it will be displayed to the public.)

Comments:

This is not a way of contacting the Prime Minister. If you would like to contact the Prime Minister, go to the 10 Downing Street official site.

Privacy note: Shortly after posting, your name and comment will be displayed on the site. This means that people searching for your name on the Internet will be able to find and read your comment.

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.

August 2007

Mon

Tue

Wed

Thu

Fri

Sat

Sun

« Jul

Sep »

» Tuesday, August 28, 2007

Economy

No Comments »

Post a public comment

Search

Supported by

Recent Briefings

Archives

Links

Syndicate (RSS/XML)

Credits

Enquiries