Prime Minister Gordon Brown has promised Labour Party delegates that he will eliminate the tax loopholes enjoyed by private equity firms if a Treasury review decides they should be closed.

In response to questions at Labour's conference in Bournemouth, the premier said: "Wherever there is a loophole where there shouldn't be we take action. On this issue of private equity, I will assure you we will do so. These are the sort of loopholes you've got to close down."