Wednesday 5 May 2010

Britain must cut deficit quickly, Europe warns

The next British government must take early measures to reduce the country’s huge deficit and stabilise debt, the European Commission warned today.

The stark message from the EU’s Economic and Monetary Affairs Commissioner will be seized on by the Conservatives as Brussels’ endorsement for their economic programme.

Introducing the Commission’s latest economic forecasts, Olli Rehn said: “The first thing for the new government to do is to agree on a convincing, ambitious programme of fiscal consolidation in order to start to reduce the very high deficit and stabilise the high debt level of the UK.” more...

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