UK's AAA Rating Confirmed
10th May 2012
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Standard and Poor have recently confirmed the UK’s AAA credit rating but have also warned that the Government’s austerity drive would continue to drag on growth for years to come. 

S&P said the outlook for the UK’s AAA rating was “stable”.

George Osborne said S&P’s decision was a reminder that without austerity the UK would be lead into “an economic catastrophe”.

S&P acknowledged that household spending would be hit by weak wage growth, rising unemployment and a weak housing market. 

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Alex M

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