Does the UK still deserve an AAA rating?

David Scammell, fund manager, Schroders' fixed income team For many investors the notion the UK Government would default on its debt is inconceivable. History has shown when fiscal retrenchment is needed, politicians take the appropriate steps to tackle the problem and people comply. The AAA status has been well earned. Such valour is clearly needed given the deterioration in public finances under the Brown administration. Pleasingly, recent developments have been encouraging. Tax receipts have risen on the back of a better economic environment, while the Chancellor used the budget to s...