Poll: Britain should keep AAA rating

21 March 2012

The UK economy will prove strong enough for the country to retain its coveted AAA credit score over the course of the next few years, research has suggested.

According to a poll of economists conducted by Reuters, the British government will do enough during its five-year term with regard to meeting its stringent financial targets to ensure the nation holds on to this important rating.

Last week (15 March), leading scoring agency Fitch issued a warning to the UK which stated that the country faces more than a 50 per cent chance of undergoing a rating cut in the near future if the coalition decided to lessen its deficit-reduction plans.

However, 15 of the 29 experts questioned by the news source believe the nation will suffer from a lower debt burden in the coming years, meaning the government will be in a position to balance its budget by 2016.

John Hawksworth of PwC commented: "We believe the chancellor should meet his medium term fiscal targets but his margin of error is small relative to the uncertainties involved."

By Gary Cooper

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