Lower-than-expected spending on energy support and the government’s near-total abandonment of last year’s ‘mini-budget’ have led ratings agency S&P Global to revise up its outlook for the UK.
The heavily criticised mini-budget has put additional pressure on the UK’s debt affordability and weakened the credibility of government policy, ratings agencies have said.
Demands to increase spending after a decade of austerity could limit the UK government’s ability to improve public finances, ratings agency Moody’s has warned.
The UK’s credit rating could decrease if the Brexit free trade agreement with the European Union undermines economic performance, according to ratings agency Fitch.
