Britian's economy was consigned to a list of those at 'high risk' yesterday because of the spiralling national debt.
The European Commission issued a humiliating warning that the worsening budget deficit poses 'serious concerns' that the country will be unable to meet future spending commitments, such as pensions.
The growing number of elderly people threatens to make debt unsustainable and has led to the UK economy being ranked alongside nations such as Latvia, Greece and Romania.
The warning plunged the Government into a furious row with Brussels, as Treasury officials said it called into question the EC's ability to carry out 'credible economic analysis'.
But the Conservatives seized on the assessment as vindication of their decision to set out a package of spending cuts aimed at restoring the public finances to balance.
Shadow Chief Secretary to the Treasury Philip Hammond said: 'This latest rebuke from the EU is further evidence of the extent of Gordon Brown's debt crisis, and shows why we need a clear and credible plan to start reducing Britain's deficit now.
'If we don't act, interest rates may rise, causing the recovery to falter and putting jobs at risk.'
There you go, the choice is simple, a vote for Labour will leave you starving on the streets.
.
0 people have spoken:
Post a Comment