UK credit rating 'at risk'

The credit rating agency Fitch has warned that the Chancellor's confession during the Autumn Statement that he missed its debt target could threaten the UK's AAA rating. But George Osborne has downplayed the impact potential if that happened.

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  1. Chris Ship

Lib Dems set out differences between them and Tories

The Liberal Democrats have been setting out the points of difference between themselves and the Conservatives during the negotiations over the Autumn Statement.

Sources close to the Deputy Prime Minister, say Nick Clegg drew red lines and refused to allow the Chancellor to cross them.

The Lib Dems did not want benefits to be frozen as had been proposed. The Chancellor announced today they would increase by one per cent (although that is still below the current rate of inflation).

Neither did Mr Clegg sanction the additional £10 billion of benefits the Tories had been seeking, including restricting child benefits to families of two children or fewer. It is highly unusual for the Lib Dems to brief independently of the Conservatives after the statement by the Chancellor.

But they clearly want to claim credit for the policies which will go down well with their supporters.

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