‘I am proud to be part of a UK government that has re-established our country’s financial credibility. And the credit rating agencies rate the UK as triple A. The low interest rates today of 1.8 per cent are a consequence of this.’
Those were the words of Danny Alexander, chief secretary to the Treasury, back in June. He was echoing what his colleagues in the Treasury have been saying throughout this Parliament: that the UK’s credit rating is a testament to the successful economic policies of the coalition. George Osborne was quick to capitalise on the announcement by Standard & Poor’s at the end of July that the UK would maintain its triple A status.
Which is why an interview that Alexander gave this morning to the Today programme sounded rather odd. ‘The credit rating is not the be-all and end-all,’ he said.
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