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Wednesday 8 June 2011

Hello Ed Balls, hello

Ed Balls has still not substantiated the claim he made on Newsnight, read more about this here. Now I wonder if he will explain his call for a 'Plan B' of slower and shallower cuts in the face of this story that:
'The outlook for Britain's prized triple-A credit rating remains stable but weaker growth and slippage in the government's fiscal plans could lead to a reassessment, credit ratings agency Moody's said on Wednesday.

The government aims to virtually eliminate a budget deficit of around 10 percent of GDP over the next four years, but lacklustre growth has caused some people to doubt whether it will meet this target. "Moody's has the UK at a triple-A rating with a stable outlook," a Moody's spokesman told Reuters.

"However, as we've been saying for a while, in a situation of lower growth combined with weaker than expected fiscal consolidation, we would reconsider our stance," he added.'
It hasn't been a good week for Ed Balls with these independent bodies disagreeing with him.

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