View more on these topics

Last week greatest change since Industrial Revolution, says Brown

Gordon Brown has called for a new settlement of the British economy in the wake of last week which he dubbed the greatest change since the Industrial Revolution.

At the Labour conference in Manchester this afternoon the Prime Minister said the collapse of banks last week brought the world into a different global age that children will study in years to come.

Brown outlined a five-point plan to address economic woes based on transparency, sound risk taking, responsibility, integrity and global standards and supervision.

He says: “Unbridled market forces have been proved wrong and I will do all it takes to stabilise the financial market and rebuild the financial system.

“In this world of vast economic and social change, new opportunity for all must be matched with a new responsibility from all. Our aim is a something-for-something Britain, nothing-for-nothing Britain.”

He says he will meet with world leaders tomorrow to discuss his five points and greater global action on the economy.


TMA launches into GI market

The Mortgage Alliance has teamed up with Abbey for Intermediaries and Halifax to launch into the general insurance market.

Warning on Lehmans fallout

Industry experts are warning that the closure of Lehman Brothers could flood the UK residential mortgage-backed securities market with discounted deals that could push down prices.

BoE to increase auctions

The Bank of England is set increase the size and number of auctions it holds to help cash strapped lenders.From Monday it will hold auctions of £40bn worth of three month money weekly rather than monthly.The BoE is also increasing the term of its existing operations to lend US dollar funds against collateral eligible in […]

Peter Mann appointed CDO at Skandia

Peter Mann is stepping down in his role as head of Bankhall as he takes up the role of chief development officer at parent group Skandia UK.


News and expert analysis straight to your inbox

Sign up