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Published 01 Feb, 2009 12:00am

Britain can fix global downturn, says Brown

LONDON, Jan 31: Prime Minister Gordon Brown said he had “utter confidence” that Britain could solve the worldwide economic crisis, in an interview published on Saturday.Britain was “in the eye of a global financial storm” but was the only country leading the way out of the downturn, he told British newspaper The Daily Telegraph at the World Economic Forum in Switzerland.

“The central issue is: do we have the self-belief and confidence in ourselves as a country to solve the problems that every other country faces?” he said in the ski resort of Davos.

“We are focused and I believe Britain should have confidence in itself.

“We are the only country that has so far set down the path in the upturn to deal with the fiscal challenges.” He said: “I have utter confidence not only in the British people’s determination to come through this, but that people will work together to make sure Britain emerges from this.

“The British spirit is to see a problem, identify it, and get on with solving it. Once a problem hits us we are determined and resolute and we are adamant that we are going to deal with that problem.

“And that is the resolve, not just of the government, but the resolve of the whole people.” Brown wants the London summit of G20 powers in April to beef up global financial institutions and improve international coordination.

He drew comparisons between the current downturn and the Great Depression, when world leaders gathered in the British capital in 1933 to consider how to tackle problems.

“People came to London in an attempt to get agreement, partly on trade, partly on other aspects of the economy. It failed.

“And it was partly as a result of that failure that the rest of the 30s was blighted by protectionism,” he said.

“I am determined that the London conference in April not only brings people together with a shared analysis and purpose, but also take the practical steps that are necessary so that the global and financial markets work better in the future and people can have trust in them.” —AFP

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