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Brown pledges action on economy | |
(about 2 hours later) | |
Gordon Brown has opened Labour's annual conference in Manchester with a pledge to do "whatever it takes" to sort out Britain's financial system. | |
The PM hailed the action his government has taken to help stabilise the money markets in the past week. | |
But he said he would now push for reforms to the global finance system and vowed to help UK workers at failed bank Lehman Brothers get paid. | |
He faces questions about his leadership as the conference gets underway. | |
The gathering is being seen as a crucial five days for Mr Brown, and a chance to prove his authority by seeing off potential leadership rivals. | |
The conference got off to a good start, with the news that Harry Potter author JK Rowling had donated £1m to the Labour Party. | The conference got off to a good start, with the news that Harry Potter author JK Rowling had donated £1m to the Labour Party. |
'Dramatic change' | 'Dramatic change' |
In an article for The Guardian, Mr Brown said the past week's financial turbulence provided the "starkest demonstration yet that we are living in an era of dramatic global change". | |
The people in the UK want to feel confident somebody, somewhere knows what the problem is and is dealing with it. Sir Stuart RoseChairman, Marks and Spencer | The people in the UK want to feel confident somebody, somewhere knows what the problem is and is dealing with it. Sir Stuart RoseChairman, Marks and Spencer |
He said the US government now owned much of the US mortgage market and a large part of the world's biggest insurer, and two of Britain's biggest banks and mortgage lenders have had to merge. | He said the US government now owned much of the US mortgage market and a large part of the world's biggest insurer, and two of Britain's biggest banks and mortgage lenders have had to merge. |
He added: "Just as when we stopped Northern Rock going to the wall...we have acted to secure people's savings, support the housing market and underpin liquidity in the banking sector. | He added: "Just as when we stopped Northern Rock going to the wall...we have acted to secure people's savings, support the housing market and underpin liquidity in the banking sector. |
"And with our support, the Financial Services Authority has banned short-selling of financial stocks." | "And with our support, the Financial Services Authority has banned short-selling of financial stocks." |
Continuing criticism | Continuing criticism |
But criticism of Mr Brown's financial competence has continued, with harsh words from the chairman of Marks and Spencer, Sir Stuart Rose. | But criticism of Mr Brown's financial competence has continued, with harsh words from the chairman of Marks and Spencer, Sir Stuart Rose. |
Sir Stuart told the BBC the government should have acted quicker when it became clear last year that Britain was entering a period of sustained economic weakness. | Sir Stuart told the BBC the government should have acted quicker when it became clear last year that Britain was entering a period of sustained economic weakness. |
Speaking before this week's unprecedented financial upheaval, Sir Stuart said: "The recognition that this was a more deep-seated issue was a bit long in coming." | Speaking before this week's unprecedented financial upheaval, Sir Stuart said: "The recognition that this was a more deep-seated issue was a bit long in coming." |
"The people in the UK want to feel confident somebody, somewhere knows what the problem is and is dealing with it." | "The people in the UK want to feel confident somebody, somewhere knows what the problem is and is dealing with it." |
But the Work and Pensions Secretary, James Purnell, said he believed the country is still behind the prime minister. | But the Work and Pensions Secretary, James Purnell, said he believed the country is still behind the prime minister. |
"I've been talking to people in my constituency and they're saying quite clearly, at a time when they're worried about the economy, if they've got a choice between Gordon Brown and David Cameron, about who can manage the economy better, they know whose side they're on. | "I've been talking to people in my constituency and they're saying quite clearly, at a time when they're worried about the economy, if they've got a choice between Gordon Brown and David Cameron, about who can manage the economy better, they know whose side they're on. |
"They're on Gordon Brown's side, because he's got the experience over ten years of being able to run the economy in a way which the Conservatives have never been able to match," Mr Purnell said. | "They're on Gordon Brown's side, because he's got the experience over ten years of being able to run the economy in a way which the Conservatives have never been able to match," Mr Purnell said. |
Virtual manifesto | Virtual manifesto |
The BBC's political correspondent, Vicky Young, says delegates to the Labour Party's conference in Manchester are likely to be told that instead of in-fighting, they should show the people of the UK they care about the same thing - the economy. | The BBC's political correspondent, Vicky Young, says delegates to the Labour Party's conference in Manchester are likely to be told that instead of in-fighting, they should show the people of the UK they care about the same thing - the economy. |
But the speculation over Mr Brown's future shows no signs of dying down with a newspaper article from Foreign Secretary David Miliband which is being interpreted by some as a virtual manifesto for the post of Labour Party leader. | But the speculation over Mr Brown's future shows no signs of dying down with a newspaper article from Foreign Secretary David Miliband which is being interpreted by some as a virtual manifesto for the post of Labour Party leader. |
HAVE YOUR SAYI remember when conferences made decisions and changed people's minds. That was the sign of a confident partyKathleen Bell, NottinghamSend us your comments | HAVE YOUR SAYI remember when conferences made decisions and changed people's minds. That was the sign of a confident partyKathleen Bell, NottinghamSend us your comments |
Across four pages of Saturday's Daily Mirror, Mr Miliband - seen as a front runner for Mr Brown's job - sets out his views on the future, on education and on the Conservative leader David Cameron. | Across four pages of Saturday's Daily Mirror, Mr Miliband - seen as a front runner for Mr Brown's job - sets out his views on the future, on education and on the Conservative leader David Cameron. |
He also talks about his background, his wife, his children and his love of Arsenal football club. | He also talks about his background, his wife, his children and his love of Arsenal football club. |
But just in case there was any doubt, he said there was no "vacancy" for the top job. | But just in case there was any doubt, he said there was no "vacancy" for the top job. |
Writing in the Times, the Health Secretary Alan Johnson, who is also seen as a potential leadership contender, ruled himself out of a bid for the job and called on the party to get behind Mr Brown. | Writing in the Times, the Health Secretary Alan Johnson, who is also seen as a potential leadership contender, ruled himself out of a bid for the job and called on the party to get behind Mr Brown. |
United front | United front |
More support for Mr Brown has come from the former Deputy Prime Minister John Prescott, who has launched a loyalist campaign together with former Downing Street press spokesman Alastair Campbell, MEP Glenys Kinnock and former minister Richard Caborn. | More support for Mr Brown has come from the former Deputy Prime Minister John Prescott, who has launched a loyalist campaign together with former Downing Street press spokesman Alastair Campbell, MEP Glenys Kinnock and former minister Richard Caborn. |
They have enlisted twenty Labour MPs, all of whom have sent letters to their parliamentary colleagues, urging them to "stand up and be counted" by joining the campaign. | They have enlisted twenty Labour MPs, all of whom have sent letters to their parliamentary colleagues, urging them to "stand up and be counted" by joining the campaign. |
The signatories come from all sides of the party, and include prominent backbencher Jon Cruddas - seen by some as a possible future left-wing candidate for the leadership. | The signatories come from all sides of the party, and include prominent backbencher Jon Cruddas - seen by some as a possible future left-wing candidate for the leadership. |
The letters warn that internal party divisions will "serve the interests of the Tories" - a message to the dozen Labour MPs who last week asked for nomination papers to be sent out for a leadership contest. | The letters warn that internal party divisions will "serve the interests of the Tories" - a message to the dozen Labour MPs who last week asked for nomination papers to be sent out for a leadership contest. |