Monday, 15 June 2015

S&P cuts UK outlook on EU exit vote

Gibran Irfani Abdullah
1801441436

The ratings agency Standard and Poor's (S&P) has cut its outlook for the UK economy because of a planned referendum on EU membership.
The referendum "represents a risk to growth prospects" for the country's economy, S&P said in a statement.
S&P changed its outlook to negative from stable but kept its current rating on the UK the same.
Prime Minister David Cameron has promised an in-out referendum on the UK's membership in the EU by 2017.
Responding to the move, the Treasury said: "We are the first to say that this is a time of heightened risk that threatens the recovery, which is why we need to go on working through the plan that is delivering economic security.
"Central to that plan is giving the British people their first say on our EU membership in forty years and resolving the uncertainty around Britain's relationship with the EU," it added.

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