British Prime Minister, Gordon Brown, wants a global strategy to deal with trade and currency imbalances. He has proposed that the new strategy should deal with the inefficient use of reserves and unstable oil prices. Gordon Brown was addressing the annual conference of the Confederation of British Industry – the country’s leading business lobby.
Bringing the economy out of recession would be a huge boost to the Prime Minister’s chances of winning the next general election. Speaking at the conference, Prime Minister Brown said: “With the collapse in available money, global trade fell in one quarter of this year by almost 20 percent and this year global trade is forecast to have its sharpest fall since the 1930s, down 12 percent in one year.” Opposition leader, David Cameron also spoke at the CBI’s conference – criticising the government by saying investors would doubt Britain’s credit-worthiness if public spending was not under control. However, a report out today by the Institute of Chartered Accountants shows confidence in British companies is at a six-year high.