Standard and Poor's did not change the UK's triple-A rating, but said it was at risk without a credible plan to put its debts on a "secure downward trajectory" by the next government.
S&P said that government debt could reach 100% of GDP by 2013 - a level it said was incompatible, if sustained, with the top credit rating.
Currently, public debt is 53% of GDP, according to the latest ONS figures.
One reason it has been changed is the belief by the ratings agency that the government will eventually be liable for costs of between £100bn to £145bn (between 7% and 10% of GDP) for bailing out the banking system - more than double the cost estimated by the Treasury
Speculation about the future of the UK's AAA has been around for a while now.
Couple of months ago, ratings agencies mentioned that no one was above review, re: the US.
I expect more QE, I like gold.
