Brussels has slashed its forecasts for Britain's growth prospects, leaving its predictions "more pessimistic" than those of the government's independent fiscal watchdog, the Office for Budget Responsibility (OBR).
The European Commission cut its forecast for the UK's economic growth this year to 1.7pc from the 2pc it envisage in February.
A Treasury spokesman countered that was much further in the "danger zone" a year ago. "The Government is having to deal with a deficit four times bigger than Germany's. Our banking bust was matched only by Ireland. Our housing bust [was] second only to Spain's," he said.
For more: TelegraphA Treasury spokesman countered that was much further in the "danger zone" a year ago. "The Government is having to deal with a deficit four times bigger than Germany's. Our banking bust was matched only by Ireland. Our housing bust [was] second only to Spain's," he said.
UK economic growth rate beaten by bailed-out Greece - Telegraph
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