P Global Ratings because of rising risks to the country’s fiscal health over the next two years.
While the slew of tax cuts announced by the UK government last week are aimed to support economic growth, those policies risk a “substantial widening” of fiscal imbalances, raising the cost of borrowing and complicating the task of bringing inflation under control, SBritish Prime Minister Liz Truss has shown no sign of backing down.
“The outlook revision primarily reflects what we view as rising fiscal risks for the UK economy stemming from the sizable budgetary loosening announced on September 23,” according to the statement. Moody’s Investors Service rates the nation Aa3, the fourth highest level, while Fitch Ratings grades it at an equivalent AA-. On September 28, Moody’s warned the UK government’s mini-budget risked doing lasting damage to the nation’s debt affordability.Nevertheless, Prime Minister Liz Truss has shown no sign of backing down, blaming Russia’s war in Ukraine for the market turmoil that pushed the pound to a record low.
Shocking ignorance from this new government on the ramifications of this budget. Should be willing to lose face for long-term benefit rather than stay the course with terrible policy
These governments are tying to bankrupt the country
Yes, it's likely to send UK into an economic depression. Curious as to who's idea it was to harm UK economically in this way. Nigel_Farage it's not a conservative budget, it's an irresponsible one.
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