This really is remarkable. A credit rating agency, Moody's, citing "weakening" of British democracy as factor in yesterday's UK downgrade
ft.com/content/117349…
And what does UK government intend to do about this? Well, Tories floated idea of abolishing Electoral Commission...
ft.com/content/117349…
And what does UK government intend to do about this? Well, Tories floated idea of abolishing Electoral Commission...
You'd think having written a book called 'Democracy for Sale' all about how British democracy has been degraded and undermined, I'd be inured to this sort of thing. But I'm still shocked to see a rating's agency say this and barely anyone bat an eyelid.
Like how do you dismiss this. "There is nothing wrong with British democracy. Of course those pinkos at, eh, Moody's would say this"?
The cost of British government borrowing is increasing, in part, because the Executive is grabbing power and weakening institutions (per @redhistorian). Think about that for a moment.
And before anyone points it out, borrowing is *really* cheap at the moment for pretty much any sovereign state. But that's also *really* not the point.
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