In his first public comments on the economy since it was revealed Britain is still in recession, Prime Minister Gordon Brown insisted he would restore growth and reform the financial sector by the end of this year. Skip related content
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PM vows economic upturn by 2010
Following Friday's surprise announcement that the economy shrank by 0.4% in the third quarter of 2009 and was officially in the longest recession since records began, Mr Brown insisted that the battle to stop the downturn becoming a second Great Depression was being won.
And he warned it would be "suicidal" to put recovery at risk by cutting spending now, as Conservatives advocate.
The Prime Minister's comments came in a podcast, released on the 10 Downing Street website and YouTube on the 80th anniversary of the Wall Street Crash, in which he also announced plans to make credit and store card operators "clean up their acts" with a set of consumer protection measures to be unveiled over the coming week.
Mr Brown said: "Although there are signs that confidence is beginning to return in some areas, we need to be cautious.
"Now, more than ever, is the time for steady and clear policies. That is why it would be suicidal to put recovery at risk by suddenly cutting off the funding and investment that is supporting young people, families and businesses through the most challenging times in a generation."
Tributes have been paid to a schoolgirl who died after slipping in her high heels and falling under a train while waving goodbye to her friends.
