–New UK Fin Min Says EU Won’t Get First Look At Budget
BRUSSELS (MNI) – National governments must remain the first port of
call for national budgets, not the European institutions, new UK
Chancellor of the Exchequer George Osborne said on Tuesday.
The European Commission last week set out proposals under which
national budget planning would conform to a European timeline and be
reviewed by the Council of European Union finance ministers, as part of
a broader package aimed at tightening up EU budget rules in the wake of
the debt crisis.
“I was very clear in that the national parliament must be
absolutely paramount” on national budgets, Osborne told reporters after
attending his first meeting of European Union finance ministers in
Brussels since he took office.
And he said his view was supported by most other finance ministers
at the meeting.
“I don’t think there was a view to the contrary on that,” he said.
Osborne said there was agreement among the ministers at the meeting
that they have to “get on top of” budget deficits and general debt
levels.
“We were swimming with the tide on the broader issues,” he said.
He said these ideas were in line with the new UK government’s plans
to accelerate its budget deficit cutting.
Osborne said he had opposed plans to up the European Commission
budget by 6%.
“It is not acceptable to have a 6% increase in the Commission
budget,” he said.
“I put to Ecofin that there should be a cash freeze in the
(Commission budget),” Osborne said, adding that he, and other finance
ministers, thought a 4.5% increase in the Commission’s administration
costs was not acceptable.
“Frankly most countries are trying to cut their administration
costs,” he said.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
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