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Sarkozy and PM in economy talks | Sarkozy and PM in economy talks |
(about 7 hours later) | |
French President Nicolas Sarkozy is meeting Gordon Brown at Downing Street for talks on what more can be to stimulate the global economy. | |
European Commission President Jose Manuel Barroso is joining them, ahead of an EU summit in Brussels this week. | |
They will later meet business leaders from across Europe afterwards to discuss ways to ease problems. | |
And they are expected to discuss ways that moving to a low-carbon economy could generate more jobs. | |
Among those taking part in the Downing Street meeting are representatives of Vodafone, Tesco, British Telecom, the National Grid, Corus, Prudential and Diageo. | |
French package | |
In November the European Commission unveiled an economic recovery plan worth 200bn euros (£170bn) - including at least 5bn euros to help the car industry develop green technologies. | In November the European Commission unveiled an economic recovery plan worth 200bn euros (£170bn) - including at least 5bn euros to help the car industry develop green technologies. |
Last week France became the latest of the biggest European economies to unveil a fiscal stimulus package. | Last week France became the latest of the biggest European economies to unveil a fiscal stimulus package. |
It plans to spend 26bn euro (£23bn) plan to boost its economy - including a loan for car manufacturers and 5bn euro public sector investments. | It plans to spend 26bn euro (£23bn) plan to boost its economy - including a loan for car manufacturers and 5bn euro public sector investments. |
Britain has already unveiled a £20bn (23.6bn euros) plan - which includes a cut in VAT, but the prime minister's spokesman has indicated more needed to be done across Europe. | Britain has already unveiled a £20bn (23.6bn euros) plan - which includes a cut in VAT, but the prime minister's spokesman has indicated more needed to be done across Europe. |
It is expected that the meeting with business leaders will discuss ways to ease pressure on firms - for example by reducing red tape to help keep costs down. | It is expected that the meeting with business leaders will discuss ways to ease pressure on firms - for example by reducing red tape to help keep costs down. |