'No deal expected' at G20 summit

Mr Rudd, one of the key players at this week's gathering in London, said that another summit would be needed before a fresh package of international tax cuts and spending increases could be put in place.

He emphasised that a 2 trillion-dollar (£1.4 trillion) fiscal stimulus for the current had been agreed at the last G20 summit in Washington in November.

It was now up to the International Monetary Fund to determine how much additional support the world economy would need next year.

Mr Rudd, who his due to hold pre-summit talks with Gordon Brown, said there had never been any expectation that the decisions on that new package would be taken in London.

"That was never the intention," he told BBC1's The Andrew Marr Show.

"A mechanism has been established for us to reflect on for what we need for the future. There will be a further summit, well in time for 2010 I assume, which will actually look at what metrics, what numbers, will be needed then."

His comments came at the end of a week which has seen Mr Brown forced to downplay expectations for the summit in London's Docklands on Thursday amid clear signs that there was little appetite around the world for a new stimulus package.

Foreign Secretary David Miliband also conceded that there would be no announcements of a fresh fiscal intervention and instead emphasised the need to reform the international financial system.