Downing Street Says » Budget deficit

» Wednesday, January 11, 2006

Budget deficit

Asked if the Government shared the EU’s concerns over the UK’s budget deficit, the PMOS said that the Treasury would be dealing with this issue. However he would simply point out that our deficit had nearly halved over the last year and was projected to halve again over next year. The UK continued to have the lowest average deficit of any other major European economy since 1997. The Treasury would emphasize that we continued to meet our fiscal rules for the economic cycle.

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