The ratings agency Standard and Poor has cut its outlook for the UK economy because of a planned referendum on EU membership. S&P said in a statement that the referendum "represents a risk to growth prospects" for the country's economy. S&P changed its outlook to negative from stable but kept its current rating on the UK the same. Prime Minister David Cameron has promised an in-out referendum on the UK's membership in the EU by 2017. Responding to the move, the Treasury said: "We are the first to say that this is a time of heightened risk that threatens the recovery, which is why we need to go on working through the plan that is delivering economic security."
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