Press Release: Commission adopts report on the United Kingdom’s budgetary situation

The European Commission on 21 September 2005 adopted a report on the budgetary situation of the United Kingdom following notification by the UK authorities in August 2005 that the general government deficit had reached 3.2% of GDP in the 2004/05 financial year. Under European Union rules, the Commission must draft a report when the 3% deficit limit is exceeded. As required by the Treaty, the Commission was to wait for the opinion of the Economic and Financial Committee before making its opinion on whether the UK deficit was excessive and whether recommendations ought to be issued.

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