George Osborne today refused to admit having failed in his commitment to protect Britain?s AAA credit rating after it was cut last night for the first time in the country?s history.
The Chancellor insisted that Britain?s credibility remained intact despite the agency Moody?s having cut the credit rating by one notch to AA1 because of ?subdued? growth prospects and a ?high and rising debt burden?.
He today reaffirmed his intention to stick with his plan for economic recovery, although the downgrade deals him a major blow. Maintaining the top credit rating for Government bonds has been a keystone in the
Source: http://www.thetimes.co.uk/tto/business/economics/article3697479.ece
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