Leaders at the G20 summit in Toronto, Canada have agreed to cut national budget deficits in half by 2013. Heads of state also agreed to new rules that would force British banks to boost their funds by £130 billion to reduce the risk of another Lehman Brothers-style collapse. In a reversal from the unity of the past three crisis-era Group of 20 Summits, the leaders decided to adopt ‘differentiated and tailored’ economic policies for each country. ‘Our challenges are as diverse as our nations,’ US President Barack Obama said. ‘But together we represent some 85 per cent of the global economy, and we have forged a coordinated response to the worst global economic crisis of our time.’ George Osborne, Chancellor of the Excequer, hailed the G20 statement as a vindication of the coalition government's policy. A sign of how much work was involved to forge the G20 consensus, is that negotiators spent at least 45 hours drafting the summit's final communique. Pray: that the policies the world leaders have adopted will not only benefit the rich but also the poorer nations. (Ecc.5:11)