Brown to urge greater EU competition
Gordon Brown will meet European Union finance ministers today to press home Britain’s vision of job and wealth creation across the union.
At the EU parliament for the monthly Ecofin council gathering, Mr Brown will issue a rallying cry to 25 European partners to meet the challenges of increased global competition from China and India.
His vision will echo the one voiced in his Mansion House speech to the City last month and will see him urge finance ministers to push for greater competition in telecommunications, energy, utilities and financial services.
Mr Brown will chair the EU finance ministers’ meetings until the end of this year following Britain’s assumption of the rotating EU presidency on July 1st.
The chancellor is expected to articulate a view that the common agricultural policy (Cap) is an “inefficient and counterproductive” subsidy and in dire need of reform.
He has said the Cap is a “symptom” of an even greater malaise about the future of the European economy. The British government believes spending 40 per cent of the EU budget on agriculture is profligate.
Also on the agenda will be the terror attacks in London and rocketing oil prices, with Mr Brown expected to urge colleagues to collaborate more on seizing the assets of terrorist and criminal groups.
Analysts fear consumer confidence could be held back if more outrages occur. EU economic and monetary affairs commissioner Joaquin Almunia has said high oil prices could impede growth forecasts for the 12 countries using the single currency.
