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In his speech, Vladimir Putin outlined the main tasks of the soon-to-be-created Council of Legislatures. Its prime task, according to the President, was the delimitation of powers between the different levels of Government. Another task was the development of local government. He stressed that harmonising regional laws with federal laws would strengthen the state and contribute to the shaping of a common legal space in Russia. Mr Putin recognised the huge amount of work carried out by the lawmakers in the new Russia. Within a short space of time, he said, the legal foundation had been laid which had made it possible to carry out the crucial government, political and economic transformations.

Answering a written question submitted during the meeting, the President stressed that the resources of the regions belonged to the whole nation. He also urged the need to recall licenses from bad-faith users of natural resources. According to world practice, oil companies have unused resources for the next 5–8 years. In Russia they have resources for the next 15–30 years and moreover, they are ready to sell these unused resources at the nation’s expense, the President stressed. He said that the country’s leadership was in contact with the heads of the major companies and was working towards adequate solutions to normalise the situation.

The President was not content with the pace of economic growth in the country. He also touched upon the issue of the net contributors to the federal budget and subsidised regions noting that the contributing regions had been created through the efforts and labour of the entire population, including the people who now live in the subsidised regions.

The President also urged the need to build political parties in the regions. In his opinion, the mixed system of forming regional parliaments would enable political parties to promote the most competent candidates to work in the legislative bodies.

Taking part in the meeting were the heads of regional legislatures from 84 Russian constituent members, representatives of the Presidential Executive Office, the State Duma and the Russian Government.