Prime Minister's question asked in the House of Commons, by Lord Cameron of Chipping Norton (Conservative). It was answered on Wednesday, 4 February 2009 on behalf of the Prime Minister.

Engagements

Question: I join the Prime Minister in paying tribute to Corporal Danny Nield, killed in Afghanistan on Friday. We should offer our deepest sympathy to his family and his friends at this time. Does the Prime Minister share my concern at the decision by the US House of Representatives to pass ““Buy America”” legislation, and does he agree that a retreat into protectionism is the last thing that the world needs? Yesterday, the Prime Minister's spokesman refused to confirm that he would specifically condemn these moves. Will the Prime Minister make clear his position today?

Answer: I have made it clear throughout the past few months that the biggest danger that the world faces is a retreat into protectionism. I have also made it clear that, as a result of the withdrawal of foreign banking capacity in large numbers of countries, we face a downward spiral whereby these countries cannot borrow from anybody because foreign banks have left. That is all the more reason why, first, we should sign the Doha agreement—that will feature on the G20 agenda—and secondly, we should ensure that every country is analysed by the World Trade Organisation on what it is doing to prevent protectionism. It is also absolutely clear that we should agree, as a world, on a monetary and fiscal stimulus that will take the world out of depression.

Secondary information