The British parliament will vote this Tuesday on a reverse decision to cut the United Kingdom's overseas aid. Chancellor of the Exchequer Sunak addressed a statement to parliament on Monday that the decision to limit foreign aid would be reversed once the UK no longer needs to borrow to fund daily needs and public debt begins to fall.
Ratings agency Moody’s cut the United Kingdom’s debt rating on Friday over the huge economic hit from the coronavirus crisis, Brexit and the lack of clear budget plans from Prime Minister Boris Johnson’s government.
Moody's on Friday downgraded the outlook for Britain's debt, citing mounting policy challenges amid the Brexit debate. The agency cut the outlook to negative from stable but kept the debt at the investment-grade Aa2.