We're not complacent on economy, says Brown

Gordon Brown insisted today that he was "never complacent" about the economy after one of his key ministers sparked controversy by claiming that she had seen the "green shoots of recovery".

The comments by Business Minister Baroness Vadera yesterday, a day when thousands more jobs went to the wall, triggered a bitter political row over the Government's response to the economic crisis.



At a news conference today in Berlin, where he was holding talks with German chancellor Angela Merkel on the economic situation, Mr Brown sought to defuse the controversy.



He insisted that the Government had already taken a series of measures to ease the crisis.



"We are vigilant in every respect about the economy, never complacent," he said.



"We have further announcements to make that show that in every area where there are problems that people feel in their everyday lives, where real help is needed for businesses and families, we will not stand by on the other side. We will be ready to help."





With US President-elect Barack Obama due to take office next week, Mr Brown called for a "reinvigorated" transatlantic alliance between Europe and America to tackle the global recession.



He welcomed Mr Obama's promised measures to cut taxes and boost spending in an effort to revitalise the struggling US economy.



"The scale of global challenges that we face mean that in 2009, I believe we must also strengthen the transatlantic alliance for this new age and for new purposes," the Prime Minister said.



"A reinvigorated transatlantic alliance, Europe working with America for the global age, what we can do together and particularly what we can achieve in partnership on stimulating the economy, will be greater than any single country or continent can achieve on its own."





Mr Brown said that after international efforts to recapitalise the banks and provide a "fiscal stimulus" to the global economy, the next step was to secure the reopening of frozen financial markets.



He said the action would be needed to deal with the so-called "toxic" or "impaired" assets held by the banks as a result of the collapse of the sub-prime mortgage market in the US.



"We must secure the widest possible transparency and the necessary renewal of trust in the banking system. That is an essential element of rebuilding the global financial system," he said.



"It will also require us to take action on impaired assets in the banking system and it will mean that we will have to have new standards of surveillance and supervision for global financial institutions."



His comments came as fears of further losses in the banking sector helped to drive down stock markets around the world.



Mr Brown said that while governments were able to take action to help small and medium companies in their own countries, the largest companies needed access to international capital.



"This is not just helping the financial markets, this is about jobs and securing growth for the future," he said.



Mr Brown's meeting with Mrs Merkel was intended to help lay the ground for the G20 summit of leading economies in London in April. The Prime Minister held similar talks with French President Nicolas Sarkozy last night in Paris.

News
Russell Brand was in typically combative form during his promotional interview with Newsnight's Evan Davis
peopleReports that Brand could stand for Mayor on an 'anti-politics' ticket
News
The clocks go forward an hour at 1am on Sunday 30 March
news
Arts and Entertainment
The Doctor finds himself in a forest version of London in Doctor Who episode 'In the Forest of the Night'
TVReview: Is the Doctor ever going stop frowning? Apparently not.
News
Voluminous silk drawers were worn by Queen Victoria
newsThe silk underwear is part of a growing trade in celebrity smalls
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
News
ebooksAn unforgettable anthology of contemporary reportage
Sport
footballMatch report: Real fight back to ruin Argentinian's debut
News
Candidates with surnames that start with an A have an electoral advantage
newsVoters are biased towards names with letters near start of alphabet
Arts and Entertainment
Isis with Lord Grantham (Hugh Bonneville)
TV
Arts and Entertainment
Jay James
TVReview: Performances were stale and cheesier than a chunk of Blue Stilton left out for a month
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Maths Teacher

£110 - £200 per day: Randstad Education Leeds: Secondary Maths Teacher for spe...

Business Analyst - Surrey - Permanent - Up to £50k DOE

£40000 - £50000 Per Annum Excellent benefits: Clearwater People Solutions Ltd:...

***ASP.NET Developer - Cheshire - £35k - Permanent***

£30000 - £35000 Per Annum Excellent benefits: Clearwater People Solutions Ltd:...

***Solutions Architect*** - Brighton - £40k - Permanent

£35000 - £40000 Per Annum Excellent benefits: Clearwater People Solutions Ltd:...

Day In a Page

Wilko Johnson, now the bad news: musician splits with manager after police investigate assault claims

Wilko Johnson, now the bad news

Former Dr Feelgood splits with manager after police investigate assault claims
Mark Udall: The Democrat Senator with a fight on his hands ahead of the US midterm elections

Mark Udall: The Democrat Senator with a fight on his hands

The Senator for Colorado is for gay rights, for abortion rights – and in the Republicans’ sights as they threaten to take control of the Senate next month
New discoveries show more contact between far-flung prehistoric humans than had been thought

New discoveries show more contact between far-flung prehistoric humans than had been thought

Evidence found of contact between Easter Islanders and South America
Cerys Matthews reveals how her uncle taped 150 interviews for a biography of Dylan Thomas

Cerys Matthews on Dylan Thomas

The singer reveals how her uncle taped 150 interviews for a biography of the famous Welsh poet
DIY is not fun and we've finally realised this as a nation

Homebase closures: 'DIY is not fun'

Homebase has announced the closure of one in four of its stores. Nick Harding, who never did know his awl from his elbow, is glad to see the back of DIY
The Battle of the Five Armies: Air New Zealand releases new Hobbit-inspired in-flight video

Air New Zealand's wizard in-flight video

The airline has released a new Hobbit-inspired clip dubbed "The most epic safety video ever made"
Pumpkin spice is the flavour of the month - but can you stomach the sweetness?

Pumpkin spice is the flavour of the month

The combination of cinnamon, clove, nutmeg (and no actual pumpkin), now flavours everything from lattes to cream cheese in the US
11 best sonic skincare brushes

11 best sonic skincare brushes

Forget the flannel - take skincare to the next level by using your favourite cleanser with a sonic facial brush
Paul Scholes column: I'm not worried about Manchester United's defence - Chelsea test can be the making of Phil Jones and Marcos Rojo

Paul Scholes column

I'm not worried about Manchester United's defence - Chelsea test can be the making of Jones and Rojo
Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

While other sports are stalked by corruption, we are an easy target for the critics
Jamie Roberts exclusive interview: 'I'm a man of my word – I'll stay in Paris'

Jamie Roberts: 'I'm a man of my word – I'll stay in Paris'

Wales centre says he’s not coming home but is looking to establish himself at Racing Métro
How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?

A crime that reveals London's dark heart

How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?