Brownian motion

10 May 2010 By Hugo Dixon Follow @hugodixon

The UK PM, who will resign no later than September, had many faults including overseeing a public spending splurge when he was finance minister. But he did make one big contribution. He galvanised other leaders to save the banking system during the postLehman meltdown.

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Gordon Brown has said he will step down as leader of the UK's Labour Party when a new leader is elected. He said he hoped this would be before the party's annual conference in September. He will remain as prime minister either until then or until a new government is formed by David Cameron, leader of the Conservative party.

Labour, which came second in last week's general election, is seeking to persuade the Liberal Democrats, who came third, to join it in a coalition. The LibDems are also holding talks with the Conservatives, who came first.

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