Coalition leaders today said they would look at their capital programme to see if they could throw businesses a lifeline by bringing forward big building projects.

Ministers pledged to do all in their power to limit the scale of the impending downturn and help people cope with the fall-out from the credit crunch after an economic summit with the leaders of businesses and trade unions in the Assembly, chaired by First Minister Rhodri Morgan.

In a communique issued after the meeting, Mr Morgan, his deputy Ieuan Wyn Jones and Welsh Secretary Paul Murphy said they would work with the UK Government and other devolved administrations to overcome a worsening economic climate.

The Assembly Government will create a specific forum for the Welsh banking and finance sector to see what additional advice and support can be given to Welsh businesses.

They promised to improve the way the Assembly Government procures goods and services, and to speed up public-sector payments to businesses - a key demand of employers and workers.

Support for businesses will be "reviewed’’ to make sure it is flexible enough to respond to a changing economic environment.

There were promises to hold more such summits in the near future and of help for workers being made redundant and companies who have to lay off staff.

Ministers said it had been an "invaluable’’ opportunity to bring together representatives from important business sectors to discuss how they could prepare for any "economic aftershocks of the global banking crisis’’.

"Today we have listened to the concerns of people with direct experience at the sharp-edge of the economy,’’ they said.

"As a result of this meeting ministers will, in addition to the action already taken, work with our partners to pull together a full response programme to help businesses and individuals cope with the current economic downturn.’’