AAA rating in doubt

15/03/12
George Osborne's Budget 2012: In the shadow of the credit rating agencies.
George Osborne's Budget 2012: In the shadow of the credit rating agencies.

Chancellor George Osborne is preparing next week's Budget amid signs Britain's credit rating will be downgraded.

Fitch rating agency said there was a greater than 50% chance the UK would lose its AAA rating in the near future.

Meanwhile, yesterday's unemployment figures triggered more concern from opposition parties about the government's spending cuts, despite signs the private sector was starting to take up some of the slack from public sector job losses.

This morning, a collection of local Lib Dem leaders demanded Mr Osborn raise the income tax threshold to £10,000 earlier than planned – despite suggestions this weekend that it might not be possible before the general election in 2015.
 

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