Liberal Democrats in Business

News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum

Brown's EU Borrowing Warning Difficult to Ignore - Cable

12.00.00am GMT Wed 11th Jan 2006

Responding to the EU Commission's decision to censure Gordon Brown over his failure to keep public borrowing below the 3% ceiling, Vince Cable MP, Liberal Democrat Shadow Chancellor said: "This latest move by Brussels will be highly embarrassing for the Chancellor and difficult for him to ignore or defend.

"The Chancellor's decision to re-base the economic cycle in order to meet his golden rule has totally undermined credibility in the rule and in Britain's fiscal policy. The argument that he 'continues to meet the fiscal rules over the cycle' is hollow and spurious.

"The fiscal regime needs greater transparency and independence, something that will only be achieved via reform of the fiscal framework."

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[Previous news story]: Government Turning Blind Eye to Energy Shortages - Hemming (Sat 31st Dec 2005).
[Next news story]: QinetiQ Sell-Off Must be Properly Scrutinised - Moore (Thu 12th Jan 2006).

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Fri 11th Jan 2008:

[Northern Rock Must Use Money From Assets Sale To Reduce Borrowing - Cable]

Wed 12th Dec 2007:

[Government can't ignore risk of housing crash - Cable]

Thu 29th Nov 2007:

[Brown's Reckless Policies Cause Instability - Cable]

Tue 9th Oct 2007:

[Country Paying For 10 Years Of Brown's Neglect - Cable]

Wed 18th Apr 2007:

[Brown's economic picture starting to fade - Cable]

Thu 20th Jul 2006:

[ONS FIGURES HIGHLIGHT BROWN'S MISMANAGEMENT - CABLE ]

[EFFICIENCY SAVINGS DIFFICULT WITH TREASURY MICROMANAGEMENT - CABLE]

Tue 2nd Nov 2004:

[Banks Must Stop Fuelling The Borrowing Boom - Cable]

Mon 1st Sep 2003:

[Voracious Personal Borrowing Continues: Consumers Ignore Debt Warnings]

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