Getting the world economy back on track
April 3rd, 2009 | by Site Admin |
Local MP, Ann McKechin, with the Prime Minister on the eve of the G20 summit, where world leaders came together to secure a new global deal on regulation and fiscal stimulus for the world economy.
G20 London summit delivers major progress
Ann McKechin MP welcomed the progress made at this week’s London G20 summit. The Leaders at the G20 agreed to:
- Restore confidence, growth, and jobs: They committed to make available an additional $1.1 trillion programme of support to help the world economy through the crisis and to restore credit, growth and jobs.
- Strengthen financial supervision and regulation: Leaders agreed to strengthen the financial system by putting in place a better and more credible system of surveillance and regulation
- Fund and reform our international financial institutions to overcome this crisis and prevent future ones: Leaders agreed to make an additional $850 billion in resources available through international financial institutions like the IMF,
- Promote global trade and investment and reject protectionism to underpin prosperity: Leaders committed not to resort to protectionism
- Build an inclusive, green, and sustainable recovery: Leaders reaffirmed their commitment to meeting the Millennium Development Goals and to delivering on development aid pledges
Commenting on the unprecedented global deal on the economy steered by the UK Prime Minister Gordon Brown and the Labour Government, local MP for Glasgow North, Ann McKechin, said:
“We face a global financial crisis on a scale that we have never really seen before. At the end of the day to get British economy back on track we have to help get the world economy back on track too. To protect jobs and businesses in Glasgow we needed to get the world leaders working together to restore confidence, growth and jobs.
“The G20 is always an important meeting, in these tough times when people across Britain are worried about jobs and paying the bills it is even more important.
“So I welcome the successes our Labour Government has secured this week. The London Summit brought together leaders of the world’s major economies and key international institutions. They have agreed collective action necessary to stabilise the world economy and secure recovery and jobs.”
Read more about the London Summit Outcomes
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