LONDON (Standard&Poor's) July 2, 2002--Although the United Kingdom (AAA/Stable/A-1+) is expected to withstand fiscal pressures related to demographic change better than its EU counterparts in the first half of this century, official U.K. projections on aging-related spending include some optimistic assumptions, Standard&Poor's said in a report published today. Under more realistic assumptions, the U.K. faces a gradual build-up of aging-related debt to 2050 if policies remain unchanged. "Based on EU surveys, the U.K. is expected to reach 2050 as a net creditor and with a small general government surplus," said Standard&Poor's credit analyst Moritz Kraemer. "But that outcome is subject to somewhat implausible assumptions by the U.K. government--especially that the pension benefit ratio, which
