§ Lord Taylor of Warwickasked Her Majesty's Government:
Why the United Kingdom has breached the European Commission's strict 3 per cent public deficit ceiling. [HL1083]
§ Lord McIntosh of HaringeyIn light of the Pre-Budget Report projections, the UK continues to meet a prudent interpretation of the stability and growth pact that reflects low debt and long-term sustainability more generally, the need for public investment in the UK, and which takes into account the economic cycle.