Good advice for Britain from Europe.

No, seriously, this sounds really good.

The next British government must take early measures to reduce the country’s huge deficit and stabilise debt, the European Commission warned today.

The stark message from the EU’s Economic and Monetary Affairs Commissioner will be seized on by the Conservatives as Brussels’ endorsement for their economic programme.

Introducing the Commission’s latest economic forecasts, Olli Rehn said: “The first thing for the new government to do is to agree on a convincing, ambitious programme of fiscal consolidation in order to start to reduce the very high deficit and stabilise the high debt level of the UK.”

He added: “That’s by far the first and foremost challenge of the new government. I trust whatever the colour of the government, I hope it will take this measure.”

So if someone said there was a potential £118 billion a year that could be saved on one single big ticket item then that would be met with approval by the Commission, right? Or possibly not, since I'm talking about the money the British government hoses at the EU every year.