I drew attention to the rising UK bond yields and falling sterling sometime ago. Moody’s decision to remove an “A” from the UK rating reflects changes already occurring in markets, and should come as no surprise to readers here. The UK both needs more growth and less public sector borrowing. I have talked about changes that would help bring this about, and will return to this in my pre Budget pieces soon.
About John Redwood
John Redwood won a free place at Kent College, Canterbury, He graduated from Magdalen College Oxford, has a DPhil and is a fellow of All Souls College. A businessman by background, he has been a director of NM Rothschild merchant bank and chairman of a quoted industrial PLC.
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