UK debt rating safe... for now
In a release that coincided with a keynote speech by Chancellor George Osborne at the Conservative Party’s annual conference in Manchester, S&P said that British growth was likely to be slower than the government expected.
It reaffirmed its AAA rating for the UK’s debt and said that the outlook was stable.
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Hide Ad“The ratings could come under downward pressure if, against our expectations – and perhaps in response to weakening growth prospects – the coalition Government’s commitment to fiscal consolidation falters,” it said in a statement.
The coalition Government aims to virtually eliminate a budget deficit of around 10 percent of GDP by 2015.