PM calls for urgent global action to boost global economy

Prime Minister Gordon Brown has called for a world trade deal to be struck "over the next few days" to help tackle global economic problems. Mr Brown said only "small differences" now prevent the Doha Round negotiations - which had stalled - being concluded. He told his regular press conference: "If over the coming days countries can resolve what I now regard as small differences it would send a huge signal to the whole world that the answer to 2008's crisis is not the beggar thy neighbour protectionate of past crises, but stimulating a world trade agreement." He stressed the importance of a trade deal as he outlined his ambitions for the G20 summit of world leaders being held in Washington at the weekend. He insisted that co-ordinated "global action" was needed to combat economic problems, rather than countries acting alone. Reform of international financial systems to enhance "transparency" would be key, as would complementing changes with fiscal measures. Mr Brown said the Government would be working with banks to ensure individuals and small businesses had access to finance. In the wake of the massive taxpayer-funded recapitalisation to banks, a set of "principles" would be agreed for lending to small businesses. There will also be announcements on how the credit card industry should deal with debtors, following concern that people are losing their homes as firms try to recoup relatively small sums.

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ITN | November 11, 2008