Downing Street Says

Asked how long the economic discussion at Cabinet lasted, the PMS replied that the discussion lasted around 30 minutes.

Asked if anything specific was said about the City, aid packages and help for workers, the PMS replied that it was a general discussion and he would not be going into specifics.

Asked if it was right that the Governor of the Bank of England was in Downing Street this morning, the PMS replied that the Governor of the Bank of England had a routine and long-standing meeting with the Chancellor and the Prime Minister this morning. The meeting had been in the diary for some time, a coincidence that it was today, and he would not read anything into the timing.

Asked what was discussed, the PMS replied that it was a private meeting, but clearly they discussed the main economic and financial issues facing the UK and the world.

Asked if the extra 20billion put into the markets this morning was as a consequence of that meeting, the PMS replied that decisions such as this were taken by the Bank of England. But he repeated that he would not read anything into the timing of the meeting.

Asked if the Prime Minister had any sympathy for the four or five thousand people in the UK who had lost their jobs as a result of this, the PMS replied that of course the Prime Minister sympathised with anybody who found themselves in that position. But these were clearly difficult times in the global economy and particularly in the global financial sector at the moment.

Asked if No10 now thought that Alistair Darling s original comments were proving rather impressive in terms of facing arguably the worst economic conditions for 60 years, the PMS replied that the Prime Minister and the Chancellor had consistently made clear that the global circumstances that we faced at the moment were very challenging.

Asked for any plans for restrictions on short selling shares, the PMS replied that this was a question best addressed to the Financial Services Authority or the Treasury.

Asked if the Government was still confident that inflation was going to come back down from 4.7%, the PMS replied that he had nothing to add to the rather detailed letter that Mervyn King sent to the Prime Minister which set out his assessment of the causes of the increase in inflation and the prospects going forward, and the Chancellor s response to that setting out the Government s position.

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» Tuesday, September 16, 2008

Economy

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