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Fitch move is warning against UK budget giveaways-Treasury
March 14, 2012 / 8:33 PM / 6 years ago

Fitch move is warning against UK budget giveaways-Treasury

LONDON, March 14 (Reuters) - The decision by credit ratings agency Fitch to put Britain’s triple-A rating on a negative outlook is a warning to those calling for deficit-funded giveways in next week’s budget, the finance ministry said on Wednesday.

The Fitch decision came just a week before finance minister George Osborne presents his annual Budget to parliament. Only last month, Moody’s also put Britain’s top-notch rating on a negative outlook, implying a one-in-three chance of a downgrade.

“A week from the budget this is a reminder of why it is essential Britain sticks to its plans to deal with its debts,” a Treasury spokesman said.

“This is just another warning to anyone who believes there can be deficit-financed giveaways in next week’s budget,” he added.

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