Wednesday 18 October 2017

At last, a little bit of good news

Good news is a scarce commodity these days, so we should embrace the morsel thrown our way by one of our more persistent critics. We should do so especially when that expert is the chief economist of rating agency Standard & Poor's. It plays a key role in reflecting how the markets judge us.

And we have received successive thumbs-down for quite some time now.

Confidence in our ability to drag ourselves out of trouble has been low. Consequently we have been paying high rates of interest on our borrowings to meet the cost of running the country.

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