LONDON (Reuters) - Britain is still in danger of losing its triple-A credit rating and the Conservatives would make protecting it a priority if elected next year, Shadow Chancellor George Osborne said.
In an interview with Reuters on Thursday, Osborne also said most of the Conservatives' deficit reduction measures would come from spending restraint.
Chancellor Alistair Darling announced tax rises and a levy on bank bonuses to help plug the government's gaping deficit, but there was little in the way of spending cuts, raising concerns about the near-term debt outlook.
Asked if Wednesday's pre-budget report measures were enough to soothe fears that Britain might lose its triple-A credit rating, Osborne said: "No, I don't think they aI don't think it is a credible plan. Unfortunately, the measures announced yesterday don't start tackling the deficit until 2014/15 and that is far too late. "The thing I'm aiming for is making sure that Britain keeps its credit rating."
Ratings agencies said the outlook for Britain's sovereign debt had not been materially changed by the PBR and they are waiting to see what measures a future government will take after next year's election, which the Labour party is expected to lose.
The Conservatives have said they will hold an emergency budget within 50 days of an election if they win. Their focus will be on spending cuts.
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