‘Negative outlook’ for credit rating

Published on Tuesday 14 February 2012 12:08

BRITAIN’S AAA credit rating was put on a “negative outlook” by ratings agency Moody’s today amid fears over weaker growth prospects and potential shocks from the eurozone crisis.

Chancellor George Osborne said the assessment was a vindication of the government’s tough austerity measures and “a reality check for anyone who thinks Britain can duck confronting its debts”.

Moody’s downgraded the ratings of six countries, putting France and Austria on the same caution as the UK amid violent protests in Greece over stringent austerity measures.

Shadow chancellor Ed Balls urged the government to spark economic growth.

He said: “Moody’s is clear in its statement that the primary reason for Britain’s negative outlook is ‘weaker growth prospects’. The case for a change of course and a real plan for jobs and growth is growing by the day.”

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jerrygreg

Wednesday, February 15, 2012 at 12:08 AM

#3 Too funny! As Eric Cartman would say, "Weak!"

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Jools in Edinburgh

Tuesday, February 14, 2012 at 11:14 PM

#1 The difference is that we have a AAA rating now. Who knows what an independent Scotland will have...and the SNP haven't even approached ratings agencies to get an idea of what it will be.

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Irritatingly Intelligent Chauvinist

Tuesday, February 14, 2012 at 04:36 PM

Well start cutting the public sector. Cut right in, deeper and more severe than anything ever seen before and then the tax burden on the wealth generators, namely the private sector can be reduced.

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The auld lies will nae wash any mair

Tuesday, February 14, 2012 at 01:32 PM

Yet another unionist scare story unravels within days! Last week we heard the unionists getting all worked up with the allegation that an independent Scotland may not achieve a AAA rating, but now this week we hear the ironic news that the UK may lose its AAA rating itself! It will be very interesting to hear how the unionists try to spin this one.

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