S&P confirm UK AAA rating
Ratings agency Standard & Poors have confirmed the UK's credit rating as AAA stable.
Chancellor George Osborne responded to the decision, saying: "This is a reminder that Britain is weathering the international debt storms because of the policies we have adopted and stuck to in tough times.
"The Budget showed we are ready to go on making the difficult decisions that are keeping our country safe. Once again we are reminded that those who want to spend and borrow even more would lead our country into an economic catastrophe."<
In a boost to Mr Osborne's economic policy, the agency warned credit ratings could be lowered if "the pace and extent of fiscal consolidation was slowing".