Moody's warns election result will complicate Brexit talks
by Katie Allen from on (#2SR6H)
UK political instability will harm economic growth and debt rating, say two main credit rating agencies
The inconclusive outcome of Britain's snap election will complicate and probably delay Brexit negotiations that were due to start next week, a leading credit rating agency has warned.
Moody's, one of the big financial bodies that assigns credit scores to governments, said Theresa May's failure to secure an outright majority would also hurt the UK's standing on international debt markets because it was likely to result in more public borrowing.
Related: Business Today: sign up for a morning shot of financial news
In terms of the outlook for growth, it's clear that things are not going in the right direction
Continue reading...