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| Version 0 | Version 1 |
|---|---|
| Brown considering City bonus curb | Brown considering City bonus curb |
| (10 minutes later) | |
| Gordon Brown has told the BBC he is considering a crackdown on "irresponsible" City bonuses. | Gordon Brown has told the BBC he is considering a crackdown on "irresponsible" City bonuses. |
| The prime minister told BBC One's Andrew Marr show the bonus culture encouraged "excessive" risk-taking. | The prime minister told BBC One's Andrew Marr show the bonus culture encouraged "excessive" risk-taking. |
| He said it was difficult to regulate as bonuses were part of a global system, but the Financial Services Authority was looking at possible curbs. | He said it was difficult to regulate as bonuses were part of a global system, but the Financial Services Authority was looking at possible curbs. |
| He also admitted he had to "do better" as PM but he still thought he was the best person to lead the country. | He also admitted he had to "do better" as PM but he still thought he was the best person to lead the country. |
| Mr Brown, who is in Manchester for Labour's annual conference, once again stressed his economic experience and hailed the government decision to introduce a temporary ban on speculative "short selling" aimed at boosting stability in the markets. | |
| And he said the financial crisis of the past week had given him the opportunity to renew his push for reform of the global financial system. | |
| Mr Brown said: "We are a pro-business government, we are pro market. But it will help business best if we can clean up what went wrong." | Mr Brown said: "We are a pro-business government, we are pro market. But it will help business best if we can clean up what went wrong." |
| Asked if "greedy" City traders had let down the country he said: "I think it's fair to say there's been a great deal of irresponsibility." | Asked if "greedy" City traders had let down the country he said: "I think it's fair to say there's been a great deal of irresponsibility." |
| "We have to recognise that mistakes have been made in the city but principally in America - this has come out of America." | "We have to recognise that mistakes have been made in the city but principally in America - this has come out of America." |
| He added: "I think there's an element of the bonus system that is unacceptable. We you get bonuses and salaries based on short term deals rather than long term performance then you have to look again at what the system is doing." | He added: "I think there's an element of the bonus system that is unacceptable. We you get bonuses and salaries based on short term deals rather than long term performance then you have to look again at what the system is doing." |