UK credit outlook cut to ‘negative’. What will Osborne do?


The decision from ‘Make-it-up-as-you-go’ Moody’s isn’t as bad a blow as it may seem.

George Osborne spent the first few years of the Coalition Government insisting that a ‘triple-A’ credit rating was vital to the UK, and we only had it because of his policies.

Then we lost it, and nothing changed at all.

It will be interesting to see what Osborne does in response, though.

Back in the day, he staked everything on that credit rating. Now it has gone up in a cloud of Brexit smoke.

Isn’t it time he evaporated too?

The UK has had its credit rating outlook cut to “negative” by the ratings agency Moody’s after the country voted to leave the EU.

Moody’s said the result would herald “a prolonged period of uncertainty”.

Meanwhile, PM David Cameron is under pressure to speed up “divorce” talks with the EU after Brussels said exit negotiations should start immediately.

EU head Jean-Claude Juncker said it was “not an amicable divorce”, but it was “not a deep love affair anyway”.

Source: EU referendum: Moody’s cut UK’s credit outlook to ‘negative’ – BBC News


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8 thoughts on “UK credit outlook cut to ‘negative’. What will Osborne do?

  1. John

    We seek him here, we seek him there, we seek him everywhere! Wherefore art thou Osbourne?

  2. David Woods

    The same ‘Moody’s’ who were quite happily giving AAA ratings to banks that were in a complete nose dive towards bankruptcy!

  3. Dez

    Moody’s? These were the same credit rating agency that were giving AIG and other major US companies good credit ratings when in fact these same companies were effectively broke and had to be bailed out.. AIG was the archilles heel of the banking insurerance arrangements where their reinsurance arrangements were
    so compromised they could not cover the major global risks that hit their policies.
    Have little faith in anything that Moody’s have to say.

  4. Brian

    Thing is, see, we’ll do the right thing, it’s only right, and whats more, were fully committed to it. We stand by hard working taxpayers, anyway, it’s all labours fault, they have caused all the problems by not winning the general election. But what we can say, is it’s going to be a long road ahead that requires sacrifice, it’s all worth it to have a strong economy and be leaders in the world. Lets be absolutely clear about this, we inherited this mess, and we’re going to ensure others clean it up.

  5. alhggyb

    Moody’s, and every other Credit agencies rating is a complete irrelevance in the world of reality. These were the organizations that rubber stamped AAA ratings on the financial instruments that were one of the contributing factors to the GFC in 2008. They should have been fined then abolished after that, but here they linger, like a corpse that doesn’t know it’s dead!

    And we are supposed to give a crap what they say?

    As for Osborne, he will go down as the worst Chancellor this country has ever been inflicted with.

Comments are closed.