After the UK's credit rating was downgraded by Moodys, veteran Labour backbencher Dennis Skinner told George Osborne that he was a football manager he would have been sacked.
Mr Skinner said: "It's been three years of continuous failure, first a recession, then a double-dip recession, now the relegation of the pound sterling.
"If he'd been a football manager he'd have been out on his neck already.
"Why doesn't he get out!"
Shadow chancellor Ed Balls referred to the Tory manifesto as he attacked the Chancellor's pre-election pledge to maintain the UK's credit rating.
Reading a quote which said "the British people will have transparent benchmarks against which they could judge the economic success or failure of the next government", Mr Balls went on:
"'Number one, we will safeguard Britain's credit rating' the first economic test he set himself, now failed by this downgraded Chancellor".
Shadow chancellor Ed Balls has said the downgrading of Britain's credit rating is in the Chancellor's own words, a "humiliation for this government".
Mr Balls said George Osborne had failed the first economic test he set himself.
"He used to say downgrade would be a disaster, now he says it doesn't matter", he added.
George Osborne has said Moody's message is "explicit" to carry on with austerity.
He says "we can either abandon our efforts to deal with debts" or we can "redouble our efforts" and make a brighter future for our children.
Chancellor George Osborne has said the Moody's downgrade is a "warning to anyone who thinks Britain can run away from its problems" and "there has not been volatility in markets today".
He also said the credit rating is an "important benchmark" for any country, but the UK's economic policy is tested "day in and day out" in markets and not found wanting.
It appears Chancellor George Osborne will face questions from MPs this afternoon on the UK's credit rating downgrade.
His appearance at the Parliamentary Commission on Banking Standards' hearing has been postponed until after an urgent question in the Commons from Labour.
The pound vs the dollar is still muted - sterling is down 0.05 percent, so predictions of doom after downgrade seem overplayed.
But on the long term trend it is way down.
As of 9am, sterling was 1.5147 dollars compared to 1.5255 dollars when markets closed on Friday afternoon.
But the euro was up slightly at 0.8731 pounds compared to 0.8631 pounds on Friday