Saturday, 23 February 2013

BBC News - UK's credit rating cut humiliating, Labour says

The BBC are acting as the Labour party's mouthpiece again today.

The news that Moodys has cut the UK credit rating from AAA to AA1 is headlined

Ratings cut humiliating, says Labour

and is accompanied by a long quote from Ed Balls that completely ignores Moodys analysis and reasons for cutting the UK's rating.

Contrary to the much repeated Labour/BBC line that George Osborne is cutting too fast and too deep, the credit ratings agency criticises George Osborne for the slower than expected 'pace' of 'deficit and debt-to-GDP reduction', for 'mounting debt levels' and the failure 'to reverse the debt trajectory' of the last Labour government (of which Ed Balls was a leading economic figure).

Why don't the BBC report and explain that? What reason is there other than that they actively support the Labour line?

Even more damning is the fact that Moodys threaten to downgrade Britain even further if the Chancellor shows any signs of a 'reduced political commitment to fiscal consolidation'.

The BBC and Labour, who are two sides of the same debased coin, cannot use the Moodys downgrade to attack George Osborne for cutting too fast and too deep, when Moodys warn against softening the UK's fiscal stance and prescribe more debt reduction.

The BBC's role in covering this news story exposes them once again as blatantly biased in favour of the Labour party. A strong Conservative Prime Minister would take action, unfortunately David Cameron is a liberal wimp.

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