Downing Street Says

» Wednesday, September 7, 2011

Economy

Asked if the Prime Minister was confident that his economic plan was working, the PMS said the Chancellor set out our position last night in a long speech on the economy.

Asked again if the Prime Minister believed that there was no reason to think again about stimulating the economy, the PMS said that the Chancellor went through this in great detail in his speech last night. The argument he was setting out was that action taken by each country needs to be calibrated to its economic situation. Those countries that have large debts and large budget deficits and therefore face significant fiscal risks, need to deal with those deficits.

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