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

Posted in News | Also tagged , and | 54 Comments

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

Posted in News | Also tagged , and | 1 Comment

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 AvatarMichael BG 22nd Oct - 12:05am
    @ Paul Barker “I have to say that I dont get this 26 Seats business” Newshound provided this figure. He/She should justify this figure. Our...
  • User Avatarmalc 21st Oct - 11:28pm
    During the referendum campaign most - if not all - of the leading "brexiteers" said that anyone already in the UK should be allowed to...
  • User Avatarfrankie 21st Oct - 10:37pm
    El Sid "I was initially in favour of staying in the EU but the campaign persuaded me to vote leave." I rather doubt that given...
  • User Avatarpaul barker 21st Oct - 10:32pm
    @DavidEvans. On this site its common practise to read someones comment before you criticise it. The 34 MPs figure has been widely quoted but it...
  • User AvatarEl Sid 21st Oct - 10:06pm
    @Eddie Sammon 21st Oct '16 - 8:07pm "El Sid, even if they deported all our citizens, we shouldn’t deport theirs. Why take it out on...
  • User AvatarThe Professor 21st Oct - 9:42pm
    @Mary Reid Read this useful item titled Election Officials Scoff at Trump's Claim of a "Rigged" Vote http://www.electoral-vote.com/evp2016/Pres/Maps/Oct18.html#item-8 I can heartily recommend this website -...