UK may lose AAA rating as GDP dives 1.9%

The Office for National Statistics (ONS) claims the UK's economic situation has worsened this year, after GDP fell 1.5% during the final quarter of 2008. Sterling also dropped today, slumping 1% against the euro to €1.1087 on fears the UK may lose its AAA credit rating. Moody's, the ratings agency, has expressed concern over the scale of public debt outlined in the Budget - with Darling forecasting it will reach 79% of GDP by 2013. On Wednesday, the Government predicted GDP would fall by 1.6% in the three months to 31 March, but the reality is even bleaker than ministers predicted. Ch...