It would be comic if the consequences weren’t so grim. There is no economic failure, it turns out, which cannot be hailed by George Osborne as a vindication of the policies that brought it about. Faced with the decision by the credit agency Moody’s to scrap Britain’s AAA rating, the chancellor declared it was yet another reason to stick to austerity – and the “clearest possible warning” to anyone who might think of breaking with it.
- The news George Osborne didn’t want to hear (itv.com)
- George Osborne: We will overcome our problems (itv.com)
- George Osborne hasn’t just failed – this is an economic disaster | Seumas Milne (guardian.co.uk)
- UK’s credit rating downgraded from AAA to AA1 by Moody’s (guardian.co.uk)
- George Osborne dubbed ‘downgraded chancellor’ by Ed Balls over AAA rating loss (metro.co.uk)
- Britain loses its AAA rating – but Osborne vows not to change course (standard.co.uk)