Henderson's Formica warns UK credit rating at risk from election

Henderson Global Investors' chief executive Andrew Formica has warned the UK's credit rating could be put at risk by a Labour triumph at next month's general election.

Formica (pictured) praised the current coalition for its attempts to reduce the UK deficit and said a move away from austerity measures would jeopardise ratings agencies' view of the economy. A change to corporate tax rates could also affect the UK's credit rating, he told Sky News. "We have been in a much better position than many of our European peers such as France. “If there was a change to the current austerity measures and to business taxation and the like, you do run the risk that the UK’s credit standing could be altered.” The UK remains AAA rated by Standard & Poor's bu...