Briefing from the Prime Minister’s Spokesman on: Cabinet, financial situation and European Council
Cabinet
The Prime Minister’s Spokesman (PMS) began by giving a short account of Cabinet. There was a presentation by the Chancellor on the measures the Government had taken in recent days to stabilise the financial markets. Looking ahead, there was a discussion on issues facing the wider economy as a consequence of the instability.
The Prime Minister had also looked ahead to the European Council meeting tomorrow and he remarked that there were several stages to what we were undertaking at the moment. The first stage was to stabilise the markets which we were currently doing, the second stage and a priority for the European Council meeting was to work with international partners to introduce greater transparency into the global financial system. At the same time we were also focussed on issues that affected people in the real economy such as housing, business, employment and the impact on family budgets.
There was also a presentation by Ed Balls ahead of his oral statement this afternoon, on testing in secondary schools and a presentation from Alan Johnson on the GP contract.
Financial Situation
Asked if the Cabinet had discussed how high unemployment was expected to rise, the PMS said that the Cabinet did not have a detailed discussion on unemployment. Asked if there was any mention of spending cuts or tax rises, the PMS said that he would not go into a detailed account of the presentation by the Chancellor or the wider discussion. Asked if the subjects were raised, the PMS replied that the measures taken in recent days and the importance of that stability on the wider economy were the subjects discussed.
Asked if there had been any mention of inflation, the PMS said that it was a component of the impact on for example, family budgets, which formed part of the discussion on the consequences of instability and rising global commodity prices.
Asked if there were any plans for a meeting of G7 countries in London, the PMS replied that if we had an announcement on any possible future meetings, we would make it when appropriate.
Asked if the UK Government would offer the same protection to Scottish local authorities as it was offering to English ones, the PMS said that that was a question best directed to the Treasury.
European Council
Asked for more detail on what the Prime Minister would like to achieve at the European Council meeting, the PMS replied that as we had said yesterday, the agenda included a discussion of what countries were doing to stabilise their own banking systems and we would be emphasising the importance of cooperation and coordination among European Union member states. The Council would also discuss how we could work together with our global partners to introduce greater transparency and regulation into the global financial system.
Misc
Asked whether 42 days had been discussed at Cabinet, the PMS said there was a brief update from Jacqui Smith on the progress of the Counter-Terrorism bill.
Asked whether Lord Mandelson had been present at Cabinet, the PMS said that he had been. Asked for more information on the statement Ed Balls would be making, the PMS advised people to wait until 3:45.
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