Barbara welcomed the progress made by world leaders at the recent G20 London summit, calling it a crucial step towards getting the economy back on track.
The main outcome of the G20 meeting was the 1.1 trillion dollars that leaders agreed to make available to help support the world economy and to restore credit, growth and jobs. Guided by the Prime Minister, world leaders also agreed to work towards a more credible global financial system with better surveillance and regulation for banks. This included an agreement to establish a new Financial Stability Board to work alongside the International Monetary Fund (IMF) to spot risks early, implement tougher principles on executive pay and take action on tax havens.
"At the moment we are facing a global financial crisis on an unprecedented scale. I know the successes of the G20 can seem quite removed from everyday life in Salford and in Worsley constituency, but to get the British economy going again and boost jobs and businesses in our local community we have to help get the world economy back on track.
“The G20 meeting in London has now laid the groundwork for international action to help restore confidence in the global financial system. This is necessary to stabilise our own economy here in Britain and it is a positive step towards securing recovery for the benefit of local people and business."