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PM announces National Economic Council  The Prime Minister has launched a new National Economic Council (NEC) that will advise on measures to steer the economy through the current global crisis.
Watch the press conference (Windows Media Player) Read the press conference Speaking to journalists in Number 10, the PM said that that the nation was "living through the first truly global financial crisis" and that changes to the Cabinet and Government, also announced today, were designed to "change the way we govern" during this period of economic insecurity. National Economic Council press notice Cabinet appointments press notice Mr Brown identified four key challenges facing the nation: financial instability; rising oil prices and the impact of this on energy and the environment; rising food prices; and equipping the country's economy for the future in terms of infrastructure and skills. Listing a number of people being brought into Government, including new Business Secretary Peter Mandelson, the Prime Minister said he had appointed "serious people doing serious jobs in serious times". The Government's primary concern was "the prosperity of every citizen in our country", he added. Chancellor Alistair Darling, who also attended the press conference, highlighted the Bank of England's injection of £40 billion into financial markets and the Financial Services Authority decision to increase protection of depositors' savings from £35,000 to £50,000, or £100,000 in the case of joint accounts, providing coverage for 98 percent of accounts. The Government was determined not just to stabilise the economy but also to sieze opportunities for the future, he said. Tags: economy, National Economic Council |
