S&P cites spending cuts in upgrade for UK outlook

first_imgTuesday 26 October 2010 8:17 pm KCS-content S&P cites spending cuts in upgrade for UK outlook whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL Sharecenter_img STANDARD & Poor’s (S&P) yesterday affirmed the UK’s government’s AAA credit rating and upgraded its outlook from negative to stable. The ratings agency cited George Osborne’s spending review as the main reason for the upgrade, in particular the coalition’s “high degree of cohesion in putting the UK’s finance onto a more sustainable footing”.It predicts that gross government debt will peak at 84 per cent of GDP in 2014 and that the current 11.2 per cent structural deficit could narrow to three per cent by 2014. This is still higher than official forecasts by the Office of Budgetary Responsibility (OBR)?that the deficit will narrow to 2.2 per cent by 2014. This difference is in part because S&P thinks the OBR’s average GDP growth figure of 2.4 per cent is overly optimistic. The agency noted that “rebalancing of the economy will likely proceed more slowly than the OBR assumes”. Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMoney VersedWoman Shares The 5 Words She Said That Left Her Boyfriend In AweMoney VersedZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald last_img

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