Autumn Statement

Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 1:25 pm on 3rd December 2014.

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Photo of George Osborne George Osborne The Chancellor of the Exchequer 1:25 pm, 3rd December 2014

The reason is that we started with a 10.5% budget deficit, which we have had to reduce. Interestingly, the International Monetary Fund assesses that we have had the longest and most sustained reduction in the structural deficit, and that we are forecast to have the strongest reduction in the headline and the structural deficit in the future. The IMF assessment of how we have done shows that we are restoring economic stability to this country.