(Reuters) – Ratings agency Moody’s said British finance minister Rachel Reeves’ first budget will create new challenges to efforts to strengthen Britain’s public finances, with the UK still facing muted growth, the Financial Times reported on Friday.
“In our view, the increase in borrowing, which is in part supported by a new measure of debt under the fiscal framework, will pose an additional challenge for what are already difficult fiscal consolidation prospects,” the FT quoted Moody’s as saying in a note to investors.
(Reporting by Chandni Shah in Bengaluru; Editing by David Goodman)
