The Centre for Policy Studies says the government is not achieving its aim to cut the budget deficit within five year, or stem the increase in public debt as a proportion of GDP.
The Coalition came into office in 2010 with the stated aim that it would eliminate the current structural deficit within five years and stem the increase in public debt as a proportion of GDP. It is not achieving these aims.
Though it correctly asserts that the deficit has fallen by around a quarter since 2010, the cyclically-adjusted current deficit (the part it said it wanted to eliminate within five years), had only fallen by 13.2% by the end of 2011/12.
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