Investing
UK’s credit rating at risk after George Osborne’s debt failure
After the Office for Budget Responsibility issued a stark assessment of the public finances, Fitch, an international ratings agency, said it will review Britain’s status next year and suggested a downgrade is now more likely, the Telegraph reports.
The OBR cut its predictions for UK economic growth again and said that even after a five-year Parliament of spending cuts and tax rises, the Government will still be borrowing one in every ten pounds it spends.
The Government’s debt – the total stock of its borrowing – will not fall as a share of the economy until 2016/17, the OBR said.
Osborne had promised to reduce the debt as a proportion of GDP by 2015/16, but admitted to MPs that he target will be missed by a year.
“Missing the target weakens the credibility of the UK’s fiscal framework, which is one of the factors supporting the rating,” Fitch said.
Tag Box
There are 0 Comment(s)
Everything you wanted to know about ISAs…but were afraid to ask
The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...
Your right to a refund if travel is affected by train strikes
There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...
Could you save money with a social broadband tariff?
Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
DIY investors: 10 common mistakes to avoid
For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.
Mortgage down-valuations: Tips to avoid pulling out of a house sale
Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?
Five tips for surviving a bear market mauling
The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...
Money Tips of the Week
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 300 High Holborn, London WC1V 7JH, Company.