LONDON (AP) - British Prime Minister Gordon Brown offered support for U.S. President George W. Bush's economic rescue package Thursday, a day before the two leaders plan to meet in Washington to discuss the global turmoil.
Brown said he would meet Bush at the White House on Friday, as Bush tries to persuade U.S. Congress to sign off on his proposed $700 billion bailout of U.S. financial markets.
"We are doing everything in our power to ensure that there is stability - and that is stability for people's jobs, for people's mortgages, for people's standards of living," Brown said Thursday in New York, where he held talks on Wall Street after addressing the U.N. General Assembly.
The meeting with Bush comes at a good time politically for Brown, who is seeking to turn around his lackluster poll ratings by promoting his experience and economic acumen in a time of fiscal instability.
In a speech to his Labour Party's annual conference this week, he emphasized that serious times required a steady hand at the helm. Brown spent a decade as treasury chief under former Prime Minister Tony Blair.
Being included in U.S. talks on the economy will likely boost Brown's argument that novices need not apply for Britain's top job. He also said he had urged fellow world leaders to discuss a global financial regulatory system, reforms of bonuses awarded to top executives and greater transparency on transactions.
"We have got to do everything we can, not just for stability now but to make sure that the international financial system is built around the right principles for the future," Brown told reporters.
Bush has proposed that the U.S. government should acquire the toxic debts of struggling financial firms in a bid to keep them from going under and to stave off a recession.
"It is necessary to get these bad assets out of the system as quickly as possible," Brown said
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