David Cameron faces a major row over the “budgetary surveillance” demand when the Prime Minister attends his first EU summit next Thursday.I am of course opposed to budget plans with high deficits, but Britain's plans aren't any of Mr Van Rompuy's business.
Britain was isolated during a meeting of an “economic government taskforce”, chaired by Herman Van Rompuy, the EU President, last night.
Mr Van Rompuy and the European Commission have tabled plans that will require all of Europe’s governments to discuss their budget plans with other EU finance ministers and officials before they [are] presented to national parliaments.
“A government presenting a budget plan with a high deficit would have to justify itself in front of its peers, among finance ministers,” said Mr Van Rompuy.
“There would still be time to adjust plans before the final budget plans are presented.”
The proposal is especially offensive since the UK is outside the eurozone. Indeed, Britain is in competition with the eurozone. How can it possibly be in our national interest to show our hand to our competitors?