Osborne to stay firm on economy
Chancellor George Osborne has insisted he will not change course despite the loss of the UK’s AAA credit rating.
Forced to make a Commons statement yesterday on the decision by rating agency Moody’s to downgrade the UK one notch to AA1, Mr Osborne insisted: “We will go on delivering on the economic plan that has brought the deficit down by a quarter.”
He told MPs there had not been “excessive volatility” as the markets gave their reaction to the Moody’s decision.
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