The Government?s fiscal watchdog has downplayed the significance of Britain potentially losing its triple-A credit rating, saying countries had not been damaged by downgrades in the past.
Robert Chote, the head of the Office for Budget Responsibility (OBR), said that there had not been a ?noticeable impact? on the markets after agencies reduced their assessments of other governments? creditworthiness.
Mr Chote rejected criticism of the way the OBR has estimated the size of the UK?s structural budget deficit after analysts claimed he had changed his methodology in a way that was helpful to the Chancellor.
Asked by George Mudie, a
Source: http://www.thetimes.co.uk/tto/business/economics/article3627630.ece
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