UK to Keep AAA Credit Rating, For Now

I’m not quite sure how but ratings agency Standard and Poor’s are allowing the UK to keep our AAA top credit rating.

It decided not to lower the rating on the grounds that it expected the British economy to pick up in the second half of the year, despite the slide back into recession and a contraction of more than 1%.

Chancellor George Osborne said it was a reminder that the world had confidence that Britain was dealing with its debt, given Osborne’s record as chancellor so far I really think he’s pushing his luck with this statement, and would urge him to keep quiet and get on with his job.

Many have called him a work experience chancellor because he had very little business experience when he was put in charge of the treasury, added to this is the fact that he is also the chief strategist for the Tory party, in effect he’s working two jobs.

If he really wants to prove he knows what he’s doing he should quit his role as chief strategist and follow his own statements and concentrate all his efforts on the economy, and not come out with declarations about how the world has confidence in Britain days after the economy shrank by 0.7%.