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<p>In 2010 the government inherited the largest deficit since the Second World War
at 9.9% of GDP in 2009-10. Since then the government has reduced the deficit by three
quarters to 2.4% of GDP last year. Without this reduction the level of debt would
be even higher than its level of 86.8% of GDP at the end of March 2017.</p><p> </p><p>The
government has committed to ensure Public Sector Net Debt as a share of GDP is falling
in 2020-21. In their March 2017 forecast the Office for Budget Responsibility forecast
that the government will meet this target two years early in 2018-19.</p>
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