Apologise over recession, PM urged

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Lord Carey said he can see why people are calling for the Prime Minister to say "sorry" for allowing the financial crisis to develop, and added that doing so will allow him to move on.

His comments follow claims that Cabinet allies also want Mr Brown to show some contrition for the regulatory failures that occurred, and Chancellor Alistair Darling has urged ministers to show "humility".

Writing in the News of the World, Lord Carey said Mr Brown is a "gifted man", adding: "He is concerned for the very poor and, during his time as Chancellor, made the UK a leader in reducing the debt of other countries as well as heading the worldwide fight against poverty.

"But none of us is perfect and all of us make mistakes. The sign of a confident, great man is the willingness to acknowledge failure."

He added: "A church minister's son, Gordon would know that 'confession' is but the prelude to the restoration of relationships with Almighty God; it works similarly in politics, as it does in all walks of life.

"Would this really be the kiss of death? Well, he would certainly be ribbed by the Opposition and some commentators might have a field day. But I believe he would bounce back the stronger for a willingness to admit to the inadvertent errors of the past."

Lord Carey added that he was "encouraged" by David Cameron's apology earlier this week for the Conservatives' failure to spot the financial crisis coming as early as they could have done.

The Tory leader had said he regrets signing up to a "cosy economic consensus" with both Labour and the Liberal Democrats.