Osborne pledges to stick to Plan A

Moody downgrades two UK infrastructure funds - Network Rail Infrastructure Finance and LCR Finance - used to finance High Speed Rail 1

Got to challenge Osborne over rising unemployment in Stockton North. Shame he doesn't understand the humiliation out of work people can feel

Asked part time Chancellor if he'll change course & become full time or go!

The Chancellor avoids answering @KerryMP 's question - When does he predict that the UK will regain its #AAA rating?

This incompetent Chancellor needs to remember he inherited a AAA credit rating. He needs to resign.

Tory MP asks "what would happen if the deficit was going up" - forgetting that it is this year under George Osborne

UQ getting repetitive now. Whips on all sides need to write better questions...or maybe just stop writing them at all?

Not surprised then that the Minister that ignored my questions. Think this tells us all we need to know about the credibility of his claims.

"They are foolish people who don't know their own foolish business" - Jacob Rees-Mogg doesn't rate the rating agencies

Interesting how pointing out core financial facts is described as being over loyal... Ho hum

Os swats John Mann: 'The last person he called to go was the shadow chancellor.' Cue chuckle outbreak on the govt benches

Claire Perry's gale force loyalty is an ill wind today. She reminds Chancellor of continuing AAA with other agencies. Only a matter of time.

Tory bbencher Brooks Newmark rightly points out Canada + Germany went into financial crisis without structural deficit - and now only 2 AAA

Osborne on Balls: 'It's a bit like the arsonist calling the fire brigade and then complaining that we haven't put the fire out for them.'

Skinner says if Osborne was a football manager he'd have been sacked by now...

Astonishingly smug little smile from Mark Garnier as he sits down from asking a soft ball question...

Revealing on RBS - Osborne makes clear he believes they have to shrink investment bank and focus more on british biz lending

George Osborne says the government must "redouble its efforts" to tackle the UK debts despite the loss of the UK's AAA credit rating. Continue to article

Ed Balls: "The Chancellor needs to get a new plan on growth and jobs that will work, or else the PM will need to get a new Chancellor"

Big gaps on Tory benches & whole empty LibDem bench. Not many willing 2 turn up 2 support the part time Chancellor on such a humiliating day

"Does he agree with himself that losing AAA rating would be a humiliation?" - @patmcfaddenmp asks the Chancellor

Lab's all out anti-austerity policy hugely dangerous for them. If voters think economy is improving in 2015 the two Eds will be shipwrecked.

Boris' economic adviser: "Economy is suffering from lack of demand... needs to be more spending by govt on infrastructure & construction"

Govt backbenchers are in danger of 'shouting down their own Chancellor' says Speaker - that's precisely what Osbo may worry about!

There is plenty for partisans on both sides in this AAA debate. A lot of shouting. Good stuff.

"Downgraded Chancellor" Bingo!

George Osborne tells MPs the credit rating downgrade is "a stark reminder of the debt problems built up in Britain over the last decade"

Ed M in Commons for george Osborne's #AAA statement. PM not in evidence.

Interesting to see whether Tories take opportunity of urgent qu on AAA to push Chancellor on tax cuts or whether they go tribal vs Balls

Philip Hammond's ambitions to succeed Osborne as Chancellor take a hit at Defence Questions today on his failure to balance MOD Budget.

Labour planning to ask urgent question on credit rating downgrade to try to get Osborne to the Commons this afternoon

Pound v dollar still muted - down 0.05 percent so predictions of doom after downgrade seemoverplayed..but on long term trend it's way down

Follow Iain on Twitter. The highly informed readers of ConservativeHome will, of course, recognise 19 November 1967 as a key point in British economic history. That day Labour Prime Minister Harold Wi... Continue to article

Ayn Rand deserves some credit today… Continue to article

Loads still saying Aaa loss "first time since 1978". To be clear hasn't been lost before, ever. And Moody's rated 4 UK gov bonds AAA in 1918

Muted market reaction to credit downgrade because it had already been priced in -- sterling down, bond yields up prior to announcement.

If there has been a worse Chancellor of the Exchequer in my lifetime than George Osborne I am struggling to put a name to him. Continue to article

Markets deliver their verdict on the blow to Britain's AAA credit rating as the value of sterling weakens overnight. Continue to article

#France's @pierremoscovici: we won't dismantle our welfare state, but reform it. Emphasises social justice, and difference with UK/Osborne.

Tory logic: losing AAA a disaster, til it happens when doesnt matter & proof we're right.But another downgrade wld be v bad (til it happens)

Sterling firm, FTSE up, bond yields solid. Market Reaction to credit rating downgrade so far: so what?

Funny to see Tories boasting credit rating downgrade has had minimal market impact when they spent yrs claiming it would lead to catastrophe

Senior Tory tells FT: "[Osborne] set up AAA rating as a defining benchmark...It was rank inexperience – foolhardiness verging on stupidity’"

Osborne will be relieved by papers' reaction to downgrade. Consensus seems to be: politically awkward but not economically terminal

Tories refuse to go on @BBCr4today to discus economy! They have lost the economic argument and this suggests they have lost election

Continue to article

Continue to article

Continue to article

Continue to article

Continue to article

Continue to article

The Chancellor's incompetence is clear from the employment figures. Despite all the Coalition's claims to the contrary, young people in particular are suffering needlessly Continue to article

In fact, they already have - in Ed Balls's celebrated Bloomberg speech, which is the founding document of British neo-Keynesianism. That text should be revisited Continue to article

Continue to article

Continue to article

Continue to article

The Moody’s downgrading ought to shame our entire political class, who have blocked Mr Osborne’s plans. Continue to article

Continue to article

Continue to article

Continue to article

An article of faith that means different things to different believers. Continue to article

Continue to article

Continue to article

Continue to article

Continue to article

Continue to article

Continue to article

Continue to article

The financial markets are set to deliver their first reaction to the loss of the UK's top AAA credit rating when they open in London later. Continue to article

I don't know how many people have actually read the Moody's report from Friday but if it's uncomfortable reading for the Chancellor - and there's no denying tha... Continue to article

We are well into Plan B, which has delayed cutting the deficit because they now realise they will not get all the extra tax revenue they wanted. Continue to article