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Don't take my word for it

Frank Hutton
Standard & Poor's

As part of my personal mission to achieve a balanced (and realistic) outlook for everyone living in our sceptred Isle I'm giving you a whole blog post dedicated to Good News - something very close to my heart. 

It's not my personal opinion in fact, it's that of the super cautious ratings agency Standard and Poors. They have much brighter and better informed people than I scouring the world's data and applying their intellect to assess future risks.

In case you missed it in the news, they have confirmed that the UK is still AAA rated in their eyes (despite downgrading the US and France). Why? I''ll let them summarise it neatly for you. Bear these things in mind next time you hear someone in the media complaining about how bleak the outlook is for us all:

  • We project that, despite recent weakness, the U.K. economy should begin to recover in the second half of 2012 and steadily strengthen, and we expect economic policy to continue focusing on closing the fiscal gap.
  • In our view, monetary flexibility remains a key credit strength owing to the British pound sterling's role as a global reserve currency.
  • We are affirming our 'AAA/A-1+' long- and short-term unsolicited sovereign credit ratings on the U.K.
  • The stable outlook reflects our expectation that the U.K. government will implement the bulk of its fiscal consolidation program and that the economy should recover in the remainder of 2012 and strengthen thereafter.

Nicely put, Standard and Poors people.

If you'd like to read even more about it then try this link. They might want you to register though.