Brown Faces EU Criticism Over Spending

The European Commission has announced today that the UK is expected to have a deficit in 2003-2004 of 3.3% of its GDP.

The Commission believes this could 'constitute an excessive deficit', and that 'a prudent budgetary position over the medium term would help avoid such risks'.

Sir Robert Atkins said:

"Gordon Brown's spending splurge means he will break the Stability Pact rules next year. This is another nail in the coffin for his reputation as a prudent Chancellor.

The European Commission joins the long list of people, like the Organisation for Economic Cooperation and Development, who are warning that Mr Brown's sums don't add up and that he is borrowing far too much.

Yet more tax increases look inevitable on top of the 60 rises Labour has introduced since 1997."
Top ↑