Panasonic Lumix DMC-FX55 for around £150
Panasonic make the electronics for Leica cameras and Leica make the lenses for the Panasonic cameras, so effectively they're one and the same.
the FX55 is pretty much the Leica CLUX 2, which costs over £300. Have a gander on some review sites, I plan on buying one when the old student loan comes through.
EDIT:
8.1mp - 28-100mm - f/2.8