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South East MEP Sharon Bowles calls for consensus building as European Commission report criticises UK recovery plans

March 16, 2010 3:00 PM

The European Commission is to publish a report tomorrow which will call for tougher action to be taken to reduce the UK's record Β£178bn deficit.

The Commission report warns that current plans to reduce the deficit, the largest in UK peacetime history, are not ambitious enough.

Sharon Bowles said:

"According to the European Commission, Labour is not doing enough to tackle the deficit. On the other hand, there are concerns that Tory cuts, days after a General Election, will be a disaster for the economy.

"As Chair of the Economic and Monetary Affairs Committee, I have seen just how big the problems are. If there was ever a time for consensus building, that time is now.

"I am chairing the first public hearings on Greece's deficit next month and I am conscious that we cannot have a situation, as we did with Greece, where governments are in denial about the full scale of their country's debts.

"The Commission's report is sobering but hopefully it will encourage political parties to work in the interests of their country and not just for themselves."