Cameron wants G8 to focus on trade and tax

PRIME minister David Cameron called for a focus on trade, tax and transparency as he prepared to meet world leaders today as host of the G8 summit in Northern Ireland.

Speaking before the two-day meeting, Cameron said the most important issue was working to promote global economic recovery.

“Let’s be clear, we still need to deal with fiscal deficits. Each country needs to press on with sorting out its public finances,” said Cameron.

“Each country needs active monetary policy to kickstart the affordable loans and mortgages that businesses and families need. And each country needs to deal with the problem of youth unemployment by pursuing the structural reforms and flexible labour markets that are vital for competitiveness and jobs.

“And then, I want to focus on three vital drivers of growth – trade, tax and transparency – where I believe we can agree some transformative results. An EU-US trade deal, for example, could be worth £10bn to the UK alone – in the end that’s not some abstract statistic.”

The summit, which includes leaders from Britain, Germany, America, Canada, France, Germany, Italy and Russia, is being held at the Lough Erne golf resort, amid an unprecedented security operation involving thousands of police officers.

Cameron said that, 15 years on from the Good Friday agreement, the setting of Northern Ireland showed “how even the most intractable problems can be addressed and resolved.”