"Debt [is] set to still rise even at the end of this five year Parliament."
While we shouldn't expect anything less, Osborne's honesty is, in some respects, rather brave. While it draws attention to Brown's toxic legacy, it also outlines how powerless the current government for the clean-up operation. Still, we're seeing progress, nonetheless.
P.S. If you need a reminder of how much the debt total will rise by, here are the numbers which the Office for Budget Responsibility came up with last week: