Downing Street Says

» Tuesday, April 29, 2008

Misc

Asked for the Prime Minister’s reaction to what Mervyn King had been saying to the Treasury Select Committee this morning about the likelihood that inflation could reach 3% or higher, the PMS replied that the Prime Minister did not have a specific reaction to that, not least because he had been in Cabinet this morning.

Asked if the Prime Minister was going to make any more representations to OPEC, the PMS said that we would continue to make our views known and that we would continue to raise this with our G8 partners. The issues of commodity prices and food prices were sure to be important issues of discussion at and in advance of the G8 Summit in July.

Asked if the Prime Minister was concerned about the affect the credit crunch was having on ordinary families at the moment or was he concerned that things could get worse, the PMS replied that this was a difficult period for the world economy; we had set out our economic forecasts in the Budget and we would do our next comprehensive one in the Pre-Budget Report, so we were not going to provide interim updates. This was a difficult period and people were concerned about the impacts on them and that was why the Government was determined to take action wherever it could to steer the country through this difficult period and that we had seen that with the announcement of the £50 billion injection of liquidity from the Bank of England last week.

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Misc

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