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.