Credit rating agency Moody's said on Friday that tax rises in Britain's budget this week highlight the government's commitment to reducing its debt, although "execution risks" to achieving that goal remain significant.
The agency noted that the UK's commitment to fiscal consolidation was a key factor in its decision last Friday to maintain the country's investment grade rating of Aa3 with a "stable" outlook.
Moody's said in its assessment of the British budget announcement on Wednesday: "While the government's willingness to put public finances back on track in line with its objectives is positive, implementation risks remain high."
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