PM Hails Global Plan For Recovery And Reform

PM Hails Global Plan For Recovery And Reform

As the London Summit draws to a close, I wanted to let you know about the historic decisions that have been made today.

This is the day the world came together to fight back against the global recession. Not with words, but with a Global Plan for Recovery and Reform and a clear timetable for its delivery.

Today, we have reached a new consensus: that we take global action together to deal with the problems we all face together; that we will do whatever is necessary to restore growth and jobs; we will take the essential action to rebuild confidence and trust in our financial system and to prevent a crisis such as this from ever happening again.

The Leaders at the G20 agreed to:

• Restore confidence, growth, and jobs: they committed to make available an additional $1.1 trillion programme of support to help the world economy through the crisis and to restore credit, growth and jobs.

• Strengthen financial supervision and regulation: leaders agreed to strengthen the financial system by putting in place a better and more credible system of surveillance and regulation

• Fund and reform our international financial institutions to overcome this crisis and prevent future ones: leaders agreed to make an additional $850 billion in resources available through international financial institutions like the IMF

• Promote global trade and investment and reject protectionism to underpin prosperity: leaders committed not to resort to protectionism

• Build an inclusive, green, and sustainable recovery: leaders reaffirmed their commitment to meeting the Millennium Development Goals and to delivering on development aid pledges

There are no quick fixes. But with the six pledges we have made today we can shorten the recession and save jobs. That is in the best interests of all families and businesses around Britain.

Gordon Brown

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