Labour: Downgrade means 'time for plan for growth'

Labour's shadow chief secretary to the Treasury, Rachel Reeves has reacted to Britain's credit rating downgrade by the ratings agency Moody's:

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UK credit rating downgraded by Moody's bcs of 'continuing weakness in the UK's medium-term growth outlook'. Time 4 a plan for jobs & growth.

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UK's credit rating downgraded

Britain's credit rating has been downgraded from the top AAA rating to AA1 by the Moody's credit rating agency.