Was Iain Dale right on the economy?
Iain Dale’s predictions for 2010, 29 December 2009:
Britain will lose its AAA credit status.
Reuters, 17 August 2010:
Moody’s Investors Service said on Tuesday the top AAA ratings of the United States, Great Britain, France and Germany are well positioned but face new challenges that increase the possibility of a downgrade.
The “distance to downgrade” for these four sovereigns has been reduced, the credit rating agency said in a statement, meaning their credit quality within that top category is declining.
So Iain Dale may end up being correct with his prediction, just not the way he thought.
The key message? Labour left the country ‘well positioned’ post-crisis, but the Tories’ economically illiterate austerity programme is endangering our credit rating.