G20 Summit Will Not Push Nations on Spending Pledges

Britain and the U.S. will not push G20 leaders for specific spending pledges to help fix the worst economic crisis in decades when they meet in London next week, Britain’s finance minister said on Sunday.

British Foreign Secretary David Miliband on his part added that the “G20 summit was never about writing national budgets. It is about the international financial architecture,” he told the BBC. “Let us not hear this (idea) that somehow the Anglo-Saxons are for fiscal policy and the other Europeans are somehow for regulation — you have got to do both,” he said.

Chancellor of the Exchequer Alistair Darling however, told the BBC that while countries would not be asked to reveal their public spending plans at the summit, they should realize boosting demand will play a key role in any recovery. [Reuters]

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