PM seeks global response to turmoil

After facing down his critics at this week's Labour Party conference in Manchester, the Prime Minister will head out to the United Nations general assembly.

While the visit will be dominated by meetings about the Millennium Development Goals, he will also use the visit to raise the banking crisis with fellow world leaders.

It will also feature in his speech to the assembly on Friday, as he lays the groundwork ahead of more detailed discussions among G7 finance ministers and European Union heads next month.

Mr Brown and the Chancellor, Alistair Darling, have set out in recent days the need for tougher regulation of financial markets and curbs on the bonus culture of the financial sector.

They have also warned that action in Britain alone is not enough and that the global nature of the recent turmoil requires an international response.

While aides have played down the prospect of coming away from New York with a specific deal, he promised to immediately embark on getting fellow leaders on board.

In his showpiece speech to the Labour conference on Tuesday, Mr Brown promised to do "all it takes" to stabilise the markets and then "rebuild the world financial system" in the months ahead.

That would include a new global regulatory framework and changes to ensure that lucrative bonuses are not awarded for "short-term speculative deals".

The Prime Minister is also calling for greater responsibility on individuals in charge of banks and more transparency in transaction-making.