The British coalition government on Monday published its Mid-Term Review, taking stock of the progress made since the general election in 2010 and promising further reforms on all aspects.

"The coalition is a serious five-year commitment to give our country strong, stable, determined leadership," Prime Minister David Cameron said at the Mid-Term Review press conference.

Cameron and Deputy Prime Minister Nick Clegg said the coalition government has been "dealing with the deficit, rebuilding the economy, reforming welfare and education and supporting hard working families through tough times."

The government said in the Review that its most urgent job was to restore stability in public finances and confidence in the British economy.

"In just two years we have cut the deficit by a quarter and have set out a credible path towards our goal to balance the current budget over the economic cycle," it said.

"Our mission is clear: to get Britain living within its means and earning its way in the world once again," it said.

The Mid-Term Review, published at the half-way point in the parliament, also highlighted a new set of reforms, including "supporting working families with childcare costs and building more houses to make the dream of home ownership a reality for more people."

The government will set out plans for long-term investment in Britain's transport infrastructure, and reforms to "provide dignity in old age" with an improved state pension and more help with the costs of long-term care.

"We will be making announcements about each of these policy initiatives in due course," Cameron and Clegg said. They reaffirmed their pledge to put political partisanship aside to "govern in the long-term interests of the country."