Brown renews call for `third way'

Brown renews call for `third way'

GORDON BROWN last night renewed his call for a new order in the world's economies and financial markets in what he said was a "third way" between over-regulation and laissez faire economics.

Speaking at Harvard University, the Chancellor outlined a four-point plan to reduce the risk of future global crises, with measures to improve transparency, enhance surveillance and regulation, form investor networks and establish a global social code.

Mr Brown, who is meeting US Treasury Secretary Robert Rubin and the Federal Reserve's Alan Greenspan in Washington today, said: "What we must together create is a new economic constitution for a global economy."