European Commission's damning indictment of Labour's debt crisis

Brussels, 16th March 2010 -- The European Commission will today criticise the Labour government's failure to tackle the national debt in a damning indictment on Labour's economic record.

The commission is publishing a report on the UK's efforts to meet the 2015 deadline of cutting its deficit, saying that it is unlikely to achieve sufficient savings. The commission also questions Treasury forecasts for the UK's economic growth in the coming years.

Vicky Ford MEP, Conservative Economic & Monetary affairs spokesman in the European Parliament said today:

"The European Commission has joined the growing chorus of businesses and investors warning that our soaring national debt must be tackled.

"Gordon Brown has failed to spell out how he would tackle the national debt crisis, whilst George Osborne has been straight with people even when the message was tough.

"This government has deliberately put off the difficult decisions that this country needs to take, and it has put party before the economic health of our country.

This is clear in the foreign exchange markets where the pound has fallen, it is clear in the bond markets where the UK is having to pay ever higher interest rates, and it is clear to international organisations like the European Commission.

We need a government that is honest about the challenges this country faces and not one which tries to hide them."

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Please contact Vicky Ford: 0044 777 181 2976 for details.

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