Brussels accepts Dutch 2014 budget despite lack of margin for error

The European Commission has accepted the Dutch government’s spending plans for 2014 even though there is no margin for error in cutting the budget deficit to 3%.

The latest official forecasts show the government’s plans will shave the deficit to the 3% upper limit agreed within the eurozone.

The Dutch plans constitute ‘some progress in addressing the structural part of the fiscal recommendations,’ the Commission statement said, adding that the government should ‘rigorously implement the budget’.

‘Getting our finances in order is one of the key issues,’ finance minister Jeroen Dijsselbloem said in a reaction. ‘As expected, the cabinet’s €6bn package of structural measures is enough to meet the European Commission’s position.’

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