Page last updated at 00:29 GMT, Saturday, 27 September 2008 01:29 UK

Brown backs US bank bail-out plan

Gordon Brown at the UN
Mr Brown said the US plan was needed to ensure liquidity in the system

Gordon Brown has pledged his support to America as the US government battles to reach a deal to stabilise its economy.

Emergency US talks are continuing on a $700bn (380bn) bail-out plan aimed at reviving the finance sector.

The prime minister, who met US President George W Bush at the White House on Friday, said the deal was "the right thing to do".

Mr Brown earlier called for an end to the "age of irresponsibility" in the global financial sector.

After 90 minutes of talks with the president, Mr Brown said the US deserved the support of Britain and the rest of the world in the measures it was taking as part of its economic rescue plan.

Talking about ending the 'age of irresponsibility' is language with which the son of the manse feels comfortable
Nick Robinson
BBC political editor

"America and Britain have always stood together as one in times of difficulty and challenging times, and I have told President Bush today that facing global turbulence Britain supports the US plan," he said.

"Whatever the details of it, it is the right thing to do."

Mr Bush has proposed the US government take on the debts of struggling financial firms in an attempt to keep them afloat and also prevent a recession.

The deal was important because it would "ensure that there is liquidity in the system", Mr Brown told the BBC.

'Continuing co-operation'

He went on to say stability was the "first duty" of government and that UK ministers were doing everything they could, including working with other countries, to resolve the financial crisis.

"We are determined that our continuing co-operation will enhance the stability of our economies and bring the prosperity that is what we want for every single citizen of the world," he added.

The age of irresponsibility must be ended. We must now become that new global order founded on transparency, not opacity
Gordon Brown

During the White House talks, Mr Brown and Mr Bush also discussed Iraq, Afghanistan and Georgia as well as the Doha round of world trade talks.

Earlier, in an address to the UN General Assembly in New York, he called for an end to the "age of irresponsibility" in the financial sector.

The prime minister, who is in the US with other world leaders for a UN development summit, said "co-ordinated" solutions to the economic downturn were needed.

"This cannot just be national anymore. We must have global supervision," he said.

"The age of irresponsibility must be ended. We must now become that new global order founded on transparency, not opacity."

The prime minister flew to New York from the Labour Party conference in Manchester to attend the UN summit which is to focus on the Millennium Development Goals.

He changed his schedule to attend talks with Mr Bush in Washington after an invitation from the president, Downing Street said.


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