Brown: EU Stability and Growth Pact not a priority for Britain

Britain's Chancellor of the Exchequer Gordon Brown has said that the rules and strictures of the EU's Stability and Growth Pact may be of secondary importance to the domestic economic policy goals of the British government.

In yesterday's pre-budget report, Brown announced that the UK will run a budget deficit of 3.4% of GDP this year, breaking the Stability and Growth Pact's limit of 3.0%.