Pushing economic credentials on US trip

The global financial crisis looks set to dominate British Prime Minister Gordon Brown's trip to the US this week as he struggles to boost his slumping popularity and confidence in his economic stewardship.

Faced with the prospect of a house price crash and the sharpest drop in a leader's personal poll ratings since World War II, Mr Brown has been anxious to show he is in control of the economy he managed for a decade as finance minister.

He met with London financiers yesterday to consult them on more action to help ease the strains caused by a global credit crunch that has now raged on for eight months because of crashing US real estate prices.

"We have been working with the Governor of the Bank of England for some time ... We are doing so in consultation with financial institutions and today's meeting was part of that process," his spokesman said.

The Prime Minister will later fly to the US to meet senior Wall Street bankers today to discuss the global credit crunch that has now raged on for eight months because of crashing US real estate prices.

He will likely press them to make full and prompt disclosure of their losses on risky US mortgage debt. Analysts say this could help to get banks lending to one another again and bring down borrowing costs for hard-pressed consumers and businesses.