Government: Economic Policies — Question

Part of the debate – in the House of Lords at 3:07 pm on 30th January 2013.

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Photo of Lord Deighton Lord Deighton The Commercial Secretary to the Treasury 3:07 pm, 30th January 2013

My comments were not intended to imply that the economy was going so well. My comments were intended to imply that the economy is facing extraordinarily difficult circumstances that were a function of the historical debt we accumulated, and a very difficult global situation in terms of demand. With respect to the deficit, I confirm that it has been reduced by a quarter.