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17 March 2004
This discussion paper on the Stability and Growth Pact (SGP) sets out the rationale for a strong and effective Pact to ensure long-term sustainability, promote fiscal co-ordination, and provide the flexibility to respond to shocks.
The Government supports a prudent interpretation of the Stability and Growth Pact, which takes account of the economic cycle, the sustainability of public finances with low levels of debt, and recognises the importance of public investment. This discussion paper sets out the key principles underpinning this approach.
"Stability and Growth Pact: a discussion paper" is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.