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.
More top news
As the skies clear overnight then temperature's will drop
A woman thought to be travelling to Syria with four children has appeared in court charged with child abduction.
This afternoon it'll gradually brighten up across many parts of the UK.