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Can David Cameron save the UK economy?

Since David Cameron announced his coalition government with the Liberal Democratic Party there have been high hopes that he can attack the UK budget deficit and reduce the national debt. He announced a number of hard-hitting policies in the run-up to the election which caught the attention of many voters in the UK. While many of these policies are likely to be watered down in some way by the Liberal Democrat party there are high hopes that public sector investment will be cut in the short-term to reduce the budget deficit.

One of the first things which David Cameron and his new government need to address is the potential loss of the UK's AAA rating from credit rating agencies. Even though unofficially this AAA rating is under review there are hopes that the UK can retain the rating and the lower cost of debt associated with such a situation. Experts seem to be split as to whether the UK economy will recover sufficiently to maintain the AAA rating or whether we may need to go lower before returning to the heady heights of AAA.

It will be difficult for David Cameron to push through investment cuts and tax rises in the short to medium term but at least he appears to have hit the ground running.

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