The world's eight leading industrialised nations turn their attention to encouraging jobs and growth during a summit in London.

Russia has joined members of the Group of Seven (G7) economic group, which on Saturday focussed on the Asian crisis.

Delegates from Britain, the US, Canada, France, Germany, Italy, Japan and Russia are set to examine challenges facing their economies.

The British Chancellor Gordon Brown is optimistic that meaningful measures on job creation can emerge from the meeting.

Chancellor Gordon Brown expects meaningful measures

"The purpose of the conference is to look at new ways of responding to the need for job-creation and job opportunity in the modern world - and I believe increasingly there is a new way, a third way developing which will get increasing support," he said.

The third way is thought to be somewhere between the solutions of deregulation and old-fashioned state control.

"We are learning from the great job-creation in the US, but are also determined to have the social cohesion that has been part of European policies in recent years," added Mr Brown.

The "third way" also involves gearing the tax system more towards incentives and work opportunities and stresses the importance of education and training.

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