Tag Archives: credit agencies

UK loses its triple-A rating – George should’ve listened to Danny

The BBC reports tonight’s predictable news:

UK’s AAA credit rating cut to Aa1 by Moody’s
The UK has had its AAA credit rating cut by Moody’s, based on its expectation that growth will “remain sluggish over the next few years”. The ratings agency became the first to lower the UK from its highest rating, to Aa1. … The UK’s net sovereign debt was the equivalent of 68% of the country’s annual economic output, or GDP, at the end of last year. All three major credit agencies last year put the UK on “negative outlook”, meaning they could downgrade its rating if

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Danny Alexander: UK’s triple-A credit rating “not be-all and end-all”

Lib Dem chief secretary to the treasury Danny Alexander has signalled an interesting shift in the government’s economic approach, downplaying the significance to the economy of the UK’s continuing triple-A credit rating. Here’s what he told the BBC (courtesy of PoliticsHome):

“The credit rating is not the be-all and end-all. What matters is have we got the right policy mix for the country to get people back into work, to support economic growth, to deal with the huge problems in our public finances and the credit agencies reflect on those things and the ratings they give are a reflection of

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LibLink … Chris Huhne: These mystery men can break governments

Lib Dem shadow home secretary Chris Huhne has an article in today’s Times noting that how much it costs the Treasury to borrow money depends on three ratings agencies … and asks the crucial question: are they fit to wield this power?

Chris’s credential for writing an article outside his brief? Well, he founded the sovereign group at Fitch Ratings, and was group managing director. Here’s an excerpt:

Last week Moody’s — one of the big three international ratings agencies — warned that the UK’s top bond rating would be under threat if Britain failed to sort out its public finances

Posted in LibLink | Also tagged , and | 4 Comments



Recent Comments

  • User AvatarHelen Dudden 24th Apr - 9:39am
    There are of course two sides to the situation. This is long standing, and as we celebrate Passover and the land that for some was...
  • User Avatarsfk 24th Apr - 9:28am
    I agree, voter contact and knowledgable local branches beat a centralised automated system hands down. There's a parallel trend in retail banking if you torture...
  • User AvatarTony Rowan-Wicks 24th Apr - 9:18am
    Totally agree with Caron. It struck me as wrong for a party which believes in voter listings in elections being completed 1 2 3 etc....
  • User AvatarRC 24th Apr - 9:13am
    @ Peter Watson A very good question given 20/20 hindsight/wisdom *after the event*. However: 1) All the evidence at the time said it would save...
  • User AvatarAustin Rathe 24th Apr - 8:31am
    David, we have never (in our surveys) asked any questions about the performance of individuals. Lib Dem Voice do ask those questions in their own...
  • User AvatarCaron Lindsay 24th Apr - 8:31am
    I wouldn't be so sure about that, Caractacus. In Scotland, the Lib Dems have been praised by NUS for persuading the SNP Government to minimise...