Downing Street Says » EU Finanical Package

» Wednesday, November 26, 2008

EU Finanical Package

Asked for more details on the package, the PMS said that this had not yet been formally announced. It was his understanding that the announcement would be made shortly. Clearly, we welcomed the fact that there was a growing consensus, not just in Europe but internationally, on the need for tax and spending policy to play an active role in helping families and businesses in Britain and across the world in getting through the downturn.

Asked how much he thought Britain would get, the PMS said he didn t think they were suggesting that there was a central pot that got allocated around. It was his understanding that this was more about the EU aggregating what individual countries were doing. There was some central support available that Britain was benefiting from, such as the European Investment Bank for Small Businesses that we announced a couple of weeks ago.

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