Report: U.K. Creditworthiness Sinking Ahead of Brexit

Deficit spending has eroded Britain’s creditworthiness for a fourth straight year, undermining the country’s bargaining position ahead of key talks with European Union nations over Brexit, a German think tank reported Tuesday.

The Center for European Policy, a think tank based in Freiburg, Germany, said Britain’s creditworthiness fell for a fourth year in its Default-Index. A main reason for the decline in the 2017 reading was overspending by British consumers: Since 2012, more than 100 percent of available income has been spent, the center concluded in its study. more