Posted by: secretperson | June 11, 2008

EU to Interfere in UK Economy

Gordon Brown is doing so badly with the economy the EU may have to intervene. The EU famously hasn’t had its budget signed off by its auditors for about 14 years, but apparently our economy is worse than that, our budget deficit is getting too large.

While I object to the EU interfering, and all they can do is warn us (it would be a fine in the Eurozone), it’ll be good to have an outside independent view of the problems of excessive borrowing. So often supporters of Gordon Brown try and twist the facts and claim the economy is healthy, borrowing is actually low etc, but these same lefties are also normally pro-EU and won’t be able to dismiss this report as “the right wing press” or whatever.

And it is right, we should cut our deficit, we should borrow less, and spend less. It already costs us 31bn a year to pay debt interest, almost the same as the armed forces budget (link).

Take the hint Gordon, if even the EU knows it is wrong, something has to change.

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