Britain dismisses report on G20 stimulus plan

Britain's Prime Minister Gordon Brown addresses the media at the Chile's Government Palace in Santiago March 27, 2009.

BERLIN (Reuters) - The British government dismissed a report in a German magazine on Saturday that suggested it was pushing for G20 nations to back $2 trillion in stimulus measures at a London summit next week.

The report in weekly Der Spiegel quoted from a draft G20 communique where the $2 trillion figure appeared in brackets, showing it was a proposal from the British and had not been approved by the broader G20 group.

"This is an old draft that has changed in a number of respects," a Downing Street spokesman said of the report.

"While we do not comment on leaks, the $2 trillion figure referred to is nothing more than the IMF's estimate of action already announced. This is not a new figure, does not relate to any new commitments and is derived from IMF figures already in the public domain."

G20 member states have already pledged total stimulus measures close to $2 trillion, according to Reuters calculations.

The magazine said the draft stated the stimulus would boost growth by 2 percentage points and employment by 19 million. It said Britain was also pushing the G20 to come up with a concrete target for global growth in 2010.

British Prime Minister Gordon Brown, who will host the April 2 summit, has said he expects world leaders to do "whatever it takes" to create growth and jobs when they come together.

The draft cited by Der Spiegel includes the following pledge: "We are determined to restore growth, resist protectionism and to reform our markets and institutions for the future."

It continues: "We believe that an open world economy, based on the principles of the market, effective regulation and strong global institutions, can ensure sustainable globalization with rising well-being for all."

(Writing by Noah Barkin; editing by Sue Thomas)