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Tories offer PM help with economy Cameron: We're in this together
(about 1 hour later)
Conservative leader David Cameron has said in an emergency statement that he will work with the government to tackle the continuing financial turbulence. David Cameron says the Conservatives will work with the government to tackle the financial crisis, telling his party faithful: "We're in this together."
Mr Cameron told his party's conference Tories would do what was needed to help bring economic stability and protect people's jobs, savings and pensions. In an emergency statement to the Tory conference he said UK parties should "stick together" and avoid the "political wrangling" seen in the US.
He said that "democracies were being tested" and that people were "confused and concerned" about the situation. "Democracies were being tested" and people were "confused and concerned" about their jobs, savings and pensions.
He said there would be day of reckoning for bankers, but said "this is not it".He said there would be day of reckoning for bankers, but said "this is not it".
The priority at the moment was to ensure stability in the banking and financial system.The priority at the moment was to ensure stability in the banking and financial system.
And he said that he wanted to ensure that the type of " political wrangling" seen in the US did not happen in the UK, he added. Shadow chancellor George Osborne is currently travelling from the Birmingham conference to London for meetings about the crisis with Chancellor Alistair Darling and regulators at the Financial Services Authority.
US share prices fell heavily in late Monday trading after a $700bn financial rescue plan was rejected by the US House of Representatives. During his statement to conference - a last minute change to the schedule - Mr Cameron said: "As if life wasn't already enough of a struggle with the cost of living going up people are worried this morning about their jobs, their mortgages, their savings, their pensions.
"They get even more worried when they hear talk of a collapse of capitalism. People are confused and concerned. They want to know what's going on. They want to know what is going to happen next."
He added: "We have always been ready - at a time of national difficulty - to put aside party differences to help bring stability and help bring reassurance.
"Working across party lines is not just something we say because it might sound reasonable - it is something that may well be very necessary. There may well need to be a marshalling of public support behind some big decisions.
"This is a moment when democracies are being tested: we need to show that they can deal with crisis and difficulties like this one."