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.

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Osborne vows to stick with economic strategy

George Osborne has vowed to stick to his economic strategy despite Britain being stripped of its prized AAA credit rating.

The Chancellor struck a defiant note after Moody's downgraded the country to AA1 - warning that sluggish growth would continue for years.

Political Correspondent Carl Dinnen reports:

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