very common code. it simply means that the ECU is not seeing the amount of boost pressure that it expects to be seeing.
most common cause is a boost leak someplace. VERY THOROUGHLY inspect all the pipes, especially the connections. you will probably find your culprit.
next most likely is the turbos control system. this includes the N75 (boost control solenoid valve) and the MAP as suggested by Owain. check all the vacuum lines and replace as needed. if they are old and weak, just replace them anyway, its like $10... this could also include the actuator that moves the vanes on the turbo, it can be tested with a Mity-Vac type tool.
least likely is the turbo itself failing, either catastrophically (there would be other symptoms you didnt mention - so its not likely) or sticky vanes. In an underboost situation, the vanes could be stuck open causing little or no boost, but that doesnt mean the turbo is junk.
it probably just needs to be cleaned and a new actuator. However, if you take of the inlet pipe and feel that the shaft wobbles around like a drunken sailor - then its junk and we can show you the best places to source a replacement.