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Statement to face EC scrutiny

Tuesday, 29th November 2011

Ministers in the Treasury today denied that the Chancellor's Autumn Statement was just a "wish list" requiring agreement from the European Commission before it could be put into effect.

UKIP's Lord Willoughby de Broke asked the question in the Lord's following the Chancellor's session in the House of Commons this afternoon.

Treasury Minister Lord Sassoon said that Parliament would always be able to scrutinise the UK's budget ahead of the European Commission.

He also went on to explain that the UK had an opt-out which meant that, unlike eurozone countries, it was not subject to any sanctions over excessive budgets.

However, Lord Willoughby challenged this, claiming they applied to the whole of the EU.  

Lord Willoughby said: "So today's Autumn Statement by the Chancellor is nothing more than an aspiration, a wish list... that will have to be ticked off and agreed by the European Commission before it can take any effect."

Lord Sassoon said the UK had always been party to the stability and growth pact but had an opt-out, which meant that while it had to "endeavour to avoid excessive deficits" it was not subject to sanctions, like members of the euro area were.

He said the UK had also secured terms that ensured "Parliament will always be allowed to scrutinise the UK's budget ahead of the European Commission".

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