Moody's have reduced the UK government's credit rating from AA1 to AA2. Their argument is that Brexit will make it harder for the UK to repay.
This is surely nonsense since all the Chancellor of the day has to do is take out his pen and sign a few cheques. Any fool can do that since the Chancellor can be certain that HM Treasury's cheques will not bounce. Of course such an action may lead to inflation but the creditors cannot claim that they have not been repaid.
by Carl Shave| Economics|1 mins. to read Over the past decade, the peer-to-peer (P2P) lending sector has gone from strength to strength. A number of government measures have shown just how much they are behind the idea – not least with the introduction of the Innovative Finance ISA (IFISA) from April 2016.
by Victor Hill| Brexit|12 mins. to read Last weekend, in his 4,000 word essay on Brexit in the Daily Telegraph, Foreign Secretary Boris Johnson resurrected the claim, much touted during the Brexit referendum, that the UK pays Brussels £350 million every week.
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