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Fitch has warned it could strip the UK of its triple A rating next month, just days after Chancellor George Osborne admitted the country’s recovery would be slower and borrowing higher.
Fitch, one of the so-called “big three” rating agencies, said on Friday it had placed the UK on negative watch, indicating a “heightened probability” of a downgrade in the near term. The decision follows the release of the latest economic and fiscal forecasts published by the government’s fiscal watchdog, the Office for Budget Responsibility, on Wednesday to coincide with the Budget.
http://link.ft.com/r/8P1R88/
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