Here’s one worthy of BBC radio 4’s “More or Less”. According to the Coalition government they “reduced the deficit by 25%” – this mantra has been repeated over and over again by Ministers. But is it true? 

Below I reproduce the figures that the Office of National Statistics (ONS) uses in its official bulletins on the national finances – specifically column JW2T of PSF1 (Public Sector Summary Balances). These are the latest available figures on the website. (http://www.ons.gov.uk/ons/dcp171778_290416.pdf)

The first set of figures are by calendar year. Even if you take the worst figure for Labour – 2010, when they were only in power until May – and 2011 for the Coalition, the reduction is 16%.

The second set of figures is by financial year (April-March). Again, if you take the worst year for Labour – this time 2009/10 when they were in power all year, and 11/12 for the Coalition, the reduction is 15%.

The third set of figures is by Quarter. The last Quarter Labour was in power was Q2 of 2010 (-34,660) – by Q2 of 2011 the deficit was down by 2.4%.

Perhaps they are using the fourth set of figures, by month? If we take the worst option again for Labour – May 2010 – and compare it to May 2012, the deficit is up by 12%. So not that then.

So what figures are the Government using to claim a 25% reduction in the deficit? Anybody? Please? Tell me they’re not just making it up?

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