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Has George Osborne won over the doubters?

Today's news that the UK credit rating in worldwide markets is "stable" in the minds of Moody's, the renowned credit rating agency, is certainly a feather in the cap of George Osborne. This is a man who is known to be highly intelligent although many people doubted his ability to perform at the highest office. However, David Cameron has had the utmost confidence in George Osborne since day one despite various calls from within the Conservative party and indeed the Liberal Democrat party for his demotion.

So far he has taken the tough decisions in his stride and seems more than willing to meet his critics head-on. However, there is also no doubt that the hardest days lie ahead for George Osborne with only a fraction of the required public-sector budget spending cuts having been announced. If, as expected, he continues on the same track as he is at the moment then potentially he could go down as one of the best Chancellor's in recent times.

It is easy to forget that he is masterminding a recovery program from one of the worst economic downturns in living history. This is an economic situation which could go on for years and years unless major and often controversial decisions are taken.

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