Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the future prospects for the UK's credit rating.

The Government’s long term economic plan has secured the UK’s strong credit rating, which has contributed to lower borrowing costs and help protect frontline services. In June 2014, Standard and Poor’s (S&P) revised the outlook on their UK AAA rating from negative to stable. The key driver cited by S&P was ‘Amid further progress in consolidating public fiannces, the UK’s economic recovery is broadening.’

S&P have assigned the UK sovereign the top triple AAA rating since they first published a UK rating in 1978. Moody’s and Fitch have assigned the UK the second highest rating Aa1 and AA+ respectively, with a stable outlook. The Government remains committed to its long term economic plan to ensure that the UK’s strong credit rating is maintained.