MEL Stride MP claimed (Times, January 17) that the Government had cut the deficit by 25%.Readers will know, of course, that 'the deficit' is simply this year's contribution to overall debt. In their December 2012 report, the Office for Budget Responsibility made it clear that 'Public sector net borrowing (PSNB) totalled £17.5-billion in November, around £1.2-billion higher than in November last year . . .'  In other words, the deficit this year went up, not down.

The Chancellor George Osborne claimed that the last Government left the biggest debt in the developed world — indeed, the opposition spokesman Ed Balls was momentarily silenced by this boast. But the 'truth will out' as they say, for in evidence to the Treasury Select Committee in November, Osborne had to admit that actually Labour left the lowest debt in the G7.  

In fact, the Conservative journalist Ramesh Patel, has admitted that actually 'Labour in 1997 inherited a debt of 42% of GDP' but 'by the start of the global banking crisis in 2008 the debt had fallen to 35%'. This is a substantial reduction which has been entirely ignored by the Coalition leadership and that has fuelled a myth giving rise to the impoverishment of millions, the loss of homes and jobs, and families in Okehampton being forced into relying on foodbanks for their survival.

Dr Peter Brickley

Chair

Okehampton and District Labour Party