UKrating cut is unlikely

MOODY&rsquo;S is today expected to say that it is unlikely to cut the UK&rsquo;s all-important triple-A credit rating due to the growing agreement among politicians on the need to cut the budget deficit.<br /><br />Alistair Darling yesterday said he &ldquo;wouldn&rsquo;t flinch from difficult decisions&rdquo; to tackle government debt, after shadow chancellor George Osborne warned Britain risked losing the confidence of international markets unless it started &ldquo;dealing with this debt problem&rdquo;.<br /><br />Moody&rsquo;s earlier this year said that it would examine whether policymakers are taking imprudent risks with public finances, thereby weakening sovereign creditworthiness. <br /><br />Indications that both political parties are agreeing to cut public spending may mean Moody&rsquo;s views the UK&rsquo;s escalating debt as manageable. <br /><br />Moody&rsquo;s last night was unavailable for comment.