S&P revised the outlook on the UK’s AAA credit rating from ‘negative’ to ‘stable’.
A report published on 26 October praised the Coalition’s actions, it said:
‘In our opinion, the decisions reached by the United Kingdom coalition government in its 2010 Spending Review reduce risks to the government's implementation of its June 2010 fiscal consolidation program. Moreover, the coalition parties have shown a high degree of cohesion in putting the U.K.'s public finances onto what we view to be a more sustainable footing. We have accordingly revised the outlook on the United Kingdom to stable from negative. We have also affirmed the 'AAA/A-1+' sovereign credit ratings on the United Kingdom’
(Standard and Poors, Press Release, 26 October 2010).
Lets remember
The IMF, the OECD, the CBI, the World Bank, the Governor of the Bank of England,
Tony Blair, credit rating agencies and lots of others have endorsed the Coalition’s deficit reduction plan.
What a difference a year makes and of course a new Government
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