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| Version 3 | Version 4 |
|---|---|
| Brown warns against 'pessimism' | Brown warns against 'pessimism' |
| (10 minutes later) | |
| The economic crisis should be treated as "the difficult birth-pangs of a new global order", Prime Minister Gordon Brown has said. | The economic crisis should be treated as "the difficult birth-pangs of a new global order", Prime Minister Gordon Brown has said. |
| In a speech he promised to fight to prevent the UK and other countries retreating into protectionism. | In a speech he promised to fight to prevent the UK and other countries retreating into protectionism. |
| Mr Brown called for "new rules" for international trade, warning against "pessimism" and "muddling through". | Mr Brown called for "new rules" for international trade, warning against "pessimism" and "muddling through". |
| Meanwhile, the Tories are announcing plans to make civil servants more "responsible" with taxpayers' money. | |
| The UK is now officially in recession for the first time since 1991, with many businesses blaming difficulties in obtaining loans for the crisis. | The UK is now officially in recession for the first time since 1991, with many businesses blaming difficulties in obtaining loans for the crisis. |
| 'Fill the gap' | 'Fill the gap' |
| Last week the government announced a scheme to offer banks insurance against losing more money from the bad debts which started the credit crunch. | Last week the government announced a scheme to offer banks insurance against losing more money from the bad debts which started the credit crunch. |
| The Bank of England will also be able to buy up to £50bn worth of assets in companies in all sectors of the economy. | The Bank of England will also be able to buy up to £50bn worth of assets in companies in all sectors of the economy. |
| Addressing the Foreign Press Association in London, Mr Brown said such measures were intended to "fill the gap" in lending. | Addressing the Foreign Press Association in London, Mr Brown said such measures were intended to "fill the gap" in lending. |
| He added: "We face a choice. We could allow this crisis to start a retreat from globalisation. | He added: "We face a choice. We could allow this crisis to start a retreat from globalisation. |
| It will be like turning around a supertanker George Osborne, Conervatives | It will be like turning around a supertanker George Osborne, Conervatives |
| "As some want, we could close our markets - for capital, financial services, trade and for labour - and therefore reduce the risks of globalisation. | "As some want, we could close our markets - for capital, financial services, trade and for labour - and therefore reduce the risks of globalisation. |
| "But that would reduce global growth, deny us the benefits of global trade and confine millions to global poverty. | "But that would reduce global growth, deny us the benefits of global trade and confine millions to global poverty. |
| "Or we could view the threats and challenges we face today as the difficult birth-pangs of a new global order - and our task now as nothing less than making the transition through a new internationalism to the benefits of an expanding global society - not muddling through as pessimists but making the necessary adjustment to a better future and setting the new rules for this new global order." | "Or we could view the threats and challenges we face today as the difficult birth-pangs of a new global order - and our task now as nothing less than making the transition through a new internationalism to the benefits of an expanding global society - not muddling through as pessimists but making the necessary adjustment to a better future and setting the new rules for this new global order." |
| Meanwhile, shadow chancellor George Osborne was due to tell the Institute of Chartered Accountants that a Conservative government would make Whitehall more accountable. | |
| 'Incentives' | 'Incentives' |
| He was expected to promise to include a clause on the responsibility to taxpayers in the employment agreements of senior civil servants, with the Civil Service Code being rewritten to incorporate "responsible financial management". | |
| Public sector employees should also be rewarded for suggesting waste-cutting ideas, Mr Osborne adds. | |
| He was expected to say: "We need a new culture of financial discipline across Whitehall. That means new incentives, new information and new powers of investigation." | |
| Mr Osborne adds: "Creating a new culture of financial discipline in Whitehall is not going to be easy. It will be like turning around a supertanker. | |
| "But with a determined political will and the right plans, we can do it. We can turn the Whitehall supertanker and put Britain on the right course." | "But with a determined political will and the right plans, we can do it. We can turn the Whitehall supertanker and put Britain on the right course." |
| A ComRes opinion poll for the Independent suggests the Conservatives have increased their lead over Labour to 15 points - from five points last month. | A ComRes opinion poll for the Independent suggests the Conservatives have increased their lead over Labour to 15 points - from five points last month. |
| It puts the party on 43%, with Labour on 28% and the Liberal Democrats on 16%. ComRes telephoned 1,012 adults from 21 to 22 January. | It puts the party on 43%, with Labour on 28% and the Liberal Democrats on 16%. ComRes telephoned 1,012 adults from 21 to 22 January. |