Downing Street Says » Miscellaneous

» Friday, December 5, 2008

Miscellaneous

Put that banks weren t passing on the reduction in interest rates and that the Government s recapitalisation plan wasn t working, the PMS said that the Prime Minister had made his view clear this morning; we hoped and expected the banks to pass on the reduction in interest rates.

Asked if nationalisation was under consideration, the PMS said that, as the Governor of the Bank of England had said, it would not be right to rule out any particular option. However, the Prime Minister had expressed quite a degree of scepticism about widespread nationalisation in an interview he gave last Friday.

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