The Express features comments from Mark Littlewood
The downgrade, the first since 1978, is not expected to spook the markets but is a political disaster for the Chancellor who staked his reputation on maintaining the gold-plated status.
Mark Littlewood, director general of the Institute of Economic Affairs, said it should serve as a wake-up call to the Chancellor to slash public spending to fund tax cuts.
“The stranglehold of regulation is hurting business prospects on almost every front,” he said. “In the lead-up to the budget Osborne would be wise to respond by taking urgent action.”
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