The Queen's Speech - a thought on reducing the deficit

Pure electioneering but maybe for 2014/15 rather than 2010. This speech was about setting unachievable targets for the next Conservative government to fail to meet. In any case, the Labour promise is not to halve the accumulated debt in four years but to halve the annual deficit. So if this year's deficit is £200 billion then Labour would still be borrowing £100 billion in four years time and the UK debt would still be rising by £100 billion a year. This would mean that the UK's annual interest payments on the debt would continue to rise from the current projected figure of £65 billion per year especially if the cost of servicing this debt rises along with interest rates. It is quite possible that the UK would need to borrow £100 billion a year just to service its debt obligations.