How high a priority is the deficit?

Given the rising costs of essential public services - notably health - and the vital work Social Liberals want to see on housing and welfare, shouldn't we be slowing down our efforts to reduce the deficit? How can we promise to reduce it fairly if we stick to the same (revised) timetable as the Tories? [Declaration of interest: I argued at the Spring Conference in 2010 that we should only aim to get rid of the deficit over 2-3 parliaments]

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