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Brown: London can lead the new order
Joe Murphy, Political Editor30.03.09
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London's beleaguered bankers can lead the world to future prosperity by embracing reforms being unveiled at the G20 summit, Gordon Brown declared today.
Writing exclusively in the Evening Standard, the Prime Minister called on the City to adopt his agenda of better regulation and closer supervision, setting new standards for the world to follow.
"It is fitting that we are seeking to agree new rules for global financial markets here in London," he wrote.
"Getting this right can provide a platform for a reformed City to secure its place as the world's leading financial centre in a more responsible, better supervised global system that our economies so urgently need."
Mr Brown is urging a stronger role for the Financial Services Authority, an end to the short-term bonus culture, a crackdown on tax havens and greater clarity of the risks taken by banks. His comments gave a strong hint that a reformed City would enjoy greater Government support.
Expressing sympathy for City workers, in contrast with his condemnations of greedy bank bosses, Mr Brown said: "I know that ordinary City workers are feeling the pain of the worldwide financial collapse that has triggered this global recession."
However, Mr Brown's article notably made no call for a big global deal to inject more money into the world economy to beat the recession, making clear that the ambition has been effectively dropped from the G20 agenda because of a lack of European support.
With the summit's formal opening just three days away, world leaders have already begun gathering in London. Australia's Kevin Rudd was at No 10 for breakfast talks this morning, with Mexican president Felipe Calderó* arriving this afternoon.
Many Londoners are keenly awaiting the arrival tomorrow of Barack Obama, who used an interview to urge the G20 countries to show "unity in the face of crisis".
The US President, who has been one of the biggest voices calling for a world cash injection to match his own plans to boost the American economy, also softened his position by agreeing the importance of other measures. "There are some G20 participants that are arguing fiercely for stimulus, others for regulation," he told the FT.
"We need stimulus and we need regulation. We need to deal with the problems right in front of us and we also need to make sure we're taking steps to prevent these types of breakdowns from happening again."
Mr Obama said that each country needed to make sure it was "taking serious steps to deal with the problems in the banking sector and the financial markets".
He retreated from demanding an immediate stimulus by agreeing with European leaders who have insisted they need to wait and see how previous spending boosts have worked. "We need to see how they work," he said.
"To start making a whole host of plans about next year, without having better information on how the current stimulus efforts are working, is something that I think is of concern."
He spoke confidently of a deal, saying he had spoken to a range of world leaders and found "a rough consensus" on what had to be done.
But shadow chancellor George Osborne, also writing in the Evening Standard, scoffed that the Government had performed a "rather panicky downplaying of expectations" from past Downing Street rhetoric about a "grand global bargain".
He said the reluctance of other countries to spend their way out of recession showed the Prime Minister was "isolated".
Reader views (48)
Wake up people....the government is not good at controlling anything. Anyone who wishes to give them more power is insane.
These politicians only have their self interest in mind. They don't care a lick about you or me.
- Steve, CT, USA
While the Australian PM Kevin Rudd is in London, perhaps Mr Brown can offer to uprate the UK State Pensions by 5% to former UK National Insurance Fund contributors who went to live in Australia in the same way as he does for those residing in the USA. Until this discrimination against 3% of the world's NI Fund contributors is fixed, Mr Brown can forget about becoming an international leader. The UK is the only country to discriminate on the grounds of residence. Perhaps he cam learn something from Kevin Rudd who even paid the AUD 1,000 (480 pounds) to Australian pensioners living overseas. Remember that we all contributed so should get current pension rates rather than the UK Government relying on subsidies from Australian taxpayers. The money is already sitting in the National Insurance Fund and the cost of uprating to the 3% who do not get it is about half the annual cost the UK taxpayer is paying to bail out the politicians' own gold-plated pension scheme. Let's replace bilateral agreements with international ones, e.g. pensions, tax havens, etc.
- Richard Lane, Kariong, NSW, Australia
Ah, the New World Order. Google it. This is the final push for global totalitarianism.
- Neil M., london uk,
Gordon is right. London can do regulation better than Frankfurt or Paris or New York. London will lead the new financial order, but Gordon will not be there. Alas, for him.
- Bloke, London
The horse has already bolted Mr B. bit late now to start talking about it, you are one of them that has helped cause the problem!
- Mike, London England
New world order? With Brown involved? I expect the world to collapse in on itself shortly.
- The Angry Shopper, Epworth, UK
He's like a man who sets fire to a house and then turns up pretending to be the fire brigade.
Election now please!
- Sallyr, London, UK
Yes of course Gordon. Now let me see, where is my magnifying glass, ah, lett me see...........
I see in the small print that you want it for raking in more tax for your wasteful projects, bodies for non jobs, more civil servants to shuffle around paper coming in with a lot of little ticked boxes, more for MPs expenses pay and pensions, more for civil service pensions, more for LA expenses, providing less services, nothing, no sorry less for the armed services, and a lot more for utopian IT projects (only on a drawing board), and jobs for the boys and girls of our MPs to have to play with and have better 2nd/3rd homes, bigger and better junkets for MPs, more people to organise the pensioners, but less money for them, , and oh, also for idiots to tell parents how to cope with, discipline and care for their children and what we should be doing with our leisure time. And yes, to commission thousands of reports for way to do things, not do things and sucking up to the EU.
Oh dear, more raids on pension pots of the private persons (but keeping sacrosanct MPS and CS pots).
Dear Gordon, you can propose, but we shortly hope to dispose, of you and your useless crew. The pity is we still have to fund your pensions for the catastrophy you have largely helped bring us to.
- Hugh, Middx
re: Albert Hall, Hove, England.
Why waste a bullet? Doom & bust's skull is too dense to penetrate.
Surely these past 12 years of a Labour Government will be remembered as the worst period of government in British history!
- Joe, Thornton Heath, UK
New world order certainly. Anything to do with finance no chance.
- John Smith, London , England
They talk about the NWO with such blatent tongues now. How the lies come thick and fast now from the powers that want one world currency and one world govenment.
- Frank Abbott, Nottingham England
I remember Adolf Hitler ranting on about a New World Order. Look where that go him. A bullet in his skull.
- Albert Hall, hove england
What is this muppet on! He does not have a clue
- Mike, London England
Can we have an election please.
- Mr S.Port, London
Brown: London can lead the new order? Time to take your medicine Gordon!
- Georges, London
If as Prime Minister he can only "suggest" an early review of MPs expenses, how can he possibly save the finances of the world?
- Colin Macpherson, Gramat France
He could lead all the failed scots back to Scotland where they can play to their hearts content at the cost to Scotland and the budget of the Scottish Parliament.
- Joe, Thornton Heath, UK
Brown, you couldn't lead us out of a paper bag. Go now and save us from further humiliation.
- Enough Greed And Sleaze, London
I wonder if Brown ever heard the Mark Twain expression "It is better to keep your mouth shut and appear stupid than to open it and remove all doubt". Yes, London can most certainly lead the new order but not with Gordon Brown in charge. The only person in the political world with any credibility at the moment is Vince Cable. Perhaps the next Chancellor should actually be an economist, and Mr Cable was before entering Parliament. By the way, has anyone seen Prudence lately?
- Sonia M., St Albans, Herts
Brown like his Premier predecessor has proved to be incapable at leading a real socialist government and has allowed himself to be blinded by the robber barons that have lead the City and who have brought the ceiling down on millions of hard working people. New Labour is now shown to be a sham because of the lack of principles of those who lead it. As the song goes 'Money is the root of all Evil, and that is so if Governments of any colour fail to closely control those involved in banking for ther sake of the country's population as a whole. London needs to change drastically to be an ethical and honourable place in which to transact financial business but I fear that politicians susceptibility to seduction by money and power will leave them unable to introduce sufficient regulation and the casino will re-emerge again.
- John, Leighton Buzzard, Beds
If Gordon Brown wants to save us from total disaster he ought to resign and go back up to Scotland. He has brought the country to its knees, he is a laughing stock across the world and, in his current paranoid state, he still believes he can "save the world". I blame his advisors who appear to be keeping him in the dark as to how seriously unpopular he is.
- R.F., Yorks, UK
This headline would have worked tomorrow on April fools day.Lead,Ha Ha ,like lambs to the slaughter.
- David, london
Why doesn't he lead the World and emigrate!
- Frederick, London
Is Brown on some sort of substance? He must take the world to be totally naive of UK's hand in this whole economic debacle!
- Harry, Uxbridge
If Mr Brown wants to save the country he has to first hold an election so that we can vote him out.
- Mr S.Port, London
Your out of touch by a clear mile Gordon, and as a line in a well known song goes .... MONEY MUST BE FUNNY IN A RICH MANS WORLD or in this case LABOURS NEW WORLD?.
All aboard the skylark?.
By the way has anyone seen "SID"?.
- John., Scarborough N.Yorks U.K.
New World Order = Recipe for Global Disaster
What strong DELUSIONS these labour embezzlers are under and what diabolical economic carnage TAX GLUTTON BROWN is presiding over - much like Emperor Nero who set Ancient Rome on fire and played the violin in blissful ignorance of his insane acts.
Talk about 're-arranging the deck chairs on the TITANIC' that is what the current laughable and last ditch efforts of this incompetent, dis-honourable and ROGUE administration is synonymous to.
Conversely NukeLabour and its parasitical politicians talk about'Regulation and close supervision' and yet they are notorious for being utterly devoid of any unaccountability and contemptible when it comes to governance and the rule of law.
What I do not understand is why HRH does not step in and use her Royal Perogative Powers to force the traitors /tyrants out of office and demand a GENERAL ELECTION NOW.
- Christopher Jackson, Manchester UK
Mr Gordo MacRuin- just please go and take your Blithering Idiots with you.
- Uncle Vanya, East Anglia Area UK
Brown is deluded he caused most of this recession just think it has been all Scottish owned Banks and building society he must have known what was going on. He has said he wants to regulate the banks and financial institutions what a cheek he and blair undid it all I believe his agenda is Scotland he wants Scotland to be the power house that is why he allowed RBS and others to do as they pleased. He has made us the laughing stock of the world and he speaks of confidence. It is he that is causing the banks etc to have no confidence he never tells the truth for a start Labour have said they are going to this that and the other and do nothing or it takes too long or maybe it will happen 6 months down the line no one believes him any more so it is he who is causing the no confidence when he is out confidence will return which is half the battle. We all know what dire straits the country is in we do not need him to tell us he is grandstanding costing us billions he could have done the G20 by video link and we would not have had violence and all these protests which is costing YOU THE TAX PAYER MONEY money which the country can ill afford to shell out just because he wants to play part politics
- Jacqui Williams, peterborough cambs
OK but than first he has to go.
- Georgie, Islington, London
Stop going on about who is "Leading"; just do it.
- R Jones, Bristol UK
i believe he actually hopes that he will be remembered as the man who saved world economics. London is secondary to his vain glorious ambition and just happens to be his 'power base', at least for the moment.
no man can single handily claim credit for any recovery that may be on the far distant horizon, how ever many light years away that might be.
i even doubt that any 'world leader' will be up front on the dazzlingly white charger. recovery like the downturn is a cyclical beast that will slowly return at its own pace and will.
- M.O'Brien, london.uk
Quote; Gordon Brown:
Writing exclusively in the Evening Standard, the Prime Minister called on the City to adopt his agenda of better regulation and closer supervision, setting new standards for the world to follow.
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He could follow China’s ways of dealing with corruption of all kinds.
If he did; there would be no more corruption in the UK.
- Mickyinlondon, london
Tony Blair was liar but at least he was convicing.
Gordon Brown is liar but does not have skill to cheat.
He should have watched and learnt from Tony .
- Alen, London
Brown can only be compared to Hitler.
MP's have long since finished listening to the electorate.
- Reuben Camara, Morecambe UK
Get real McBean! Who the hell is going to listen to the likes of you.
- Dee Jay, Fleet Hampshire
Once again Gord's got it wrong, it's not 'New Order' but if he's involved should be 'New Odour'.
- Alan, carlisle uk
Gordon Brown no longer has any credibility and is so out of touch with the British people he is on another planet. Gordon, we don't want to lead the rest of the world: we just want our own country to be in a much better condition. Gordon, other countries don't want to be led by us because they see the wretched state you have left us in. We don't give you our taxes to make merry with: we give you our taxes to ensure we have the essential basics of life - shelter, good health care, education, jobs and food.
- Janet, , UK
The Marxists (communists) protest against the capitalists at the G20 summit but who protests against the communist influenced devalued Labour Government who got us in the UK into this mess (including the devalued Prime Minister) and the impotent marxist led European Union of Soviet Socialist Republics?
- Joe, Thornton Heath, UK
“ The owners of capital will stimulate the working class to buy more and more of expensive goods,
houses, and mechanical products, pushing them to take more and more expensive credits, until
their debt becomes unbearable The unpaid debt will lead to bankruptcy of the banks, which will
have to be nationalised, and the state will have to take the road which will eventually lead to
communism.”
Karl Marx, Das Kapital
- Frederick, London
Our bankers have blown it.
They should keep quiet and learn from the Germans how traditional ethical banking works.
- Nick, London
Brown is delusional, he seems to be totally wrapped up in his own little dreamworld where he is a 'respected' leader and all these other 'respected' leaders who are coming to his court to listen to his wisdom and create some world saving new financial order, they reality is, they are just like him, running away from their own troubles and washing up here because only a deluded fool like Brown and his NuLab numpty's would be dumb enough to pay £millions for a junket like this which is aimed more at self promotion and grandstanding than actually doing anything to help the ordinary people of the country who are being totally screwed by the incompetent half wits who are destroying the country and taxing us out of existence. Walter Mitty pales in comparison!
- Ed, Hants
Through Browns incompetence and having clearly ruined Britain according to Stratfor Analysis the baton for economic leadership has been passed on to Germany. The Europeans now follow Germany who in the near future is going to make some very stringent rules. The Present EU will fracture and Germany will take ten Nations of the East to its own. As for Britain and America the Future looks grim as this man has spent us into national bankruptcy by taking over £1.4 trillions to save dead banks walking according to Weiss the man who set up the bank rating agency. Beside these men like Mc Calvaney he is a rank amateur who against top advise sold half our gold reserves at the bargain basement price of $275oz at the bottom of the market when it reached over $1070oz. . As Nigel Farrage confirmed in the EU Parliament when attacking Brown to his sickly grinning white with anger face, that action cost this nation £10billions. This does not include the promised losses it will cost when gold reaches over $2,000oz. Get your friends and you also Phone, Write, Email your MP and demand he stop bankrupting the nation more, stop supporting the banks and stop paying the EU over £14Billions yearly because the EU Auditors confirm up to 95% of the EU Budget is Unaccounted for/Missing. Come out of her and her corruption my people. We strain at gnats but swallow camels whole. Stop worrying about thousands when billions and trillions are being stolen.
- Peter, Camberley UK
new world order scum bags....some old nonsense.
problem? engineered economic crash
reaction? public outcry/fury
solution? new world order centralisation...in this case a one world economic order controlled by....yup. you guessed it. NOT ME OR YOU!
dont vote. these people have taken over the democratic process years ago. dont play the red blue charade...you're smarter than that aren't you?
- Paul Crowley, brighton
"the Prime Minister called on the City to adopt his agenda of better regulation and closer supervision"
You are having a laugh? Perhaps that should read "Gordon Brown called on the city to help him close a barn door after all the livestock had bolted and the entire village had been burnt down down by the incompetant idiot farmer"?
- Bob, Cheam
Blah blah blah. Blah blah blah. Blah blah blah. Blah blah.........
- Andrew, Leaving the sinking ship England
Brown, I'm sure it's the first rule of governance ... if the person at the top is completely incompetent, then you can be sure as hell the people down the line won't be any better.
Please do one decent thing in your life and RESIGN.
- Marianne, SW France
How many times have we heard from the NuLabour spin machine that things are going to change for the better with them and all we have seen is a worsening of everything that they meddle with.
Is is any wonder that few believe them here any more,so why should the rest of the world.
- Nigel, wimbledon
