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.
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More than a million adults in the UK may have been wrongly diagnosed with asthma, according to an NHS watchdog.
A whisky advert featuring David Beckham has been cleared by the advertising regulator.
Councils will have to cut money from services such as libraries because of the rising cost of caring for the elderly, a new report warns.