Oral question asked in the House of Commons, by Gordon Prentice (Labour). It was answered on Tuesday, 16 March 2010 on behalf of the Treasury.

Credit Rating

Question: Is it not the case that the credit rating agencies take account of the real economy, that Britain is the world's sixth-largest exporter of manufactured goods and the world's second-largest exporter of services, and that there is no possibility of the credit rating agencies downgrading our rating?

Answer: My hon. Friend is absolutely right to point to the strength of the UK as a manufacturing nation and our strength in terms of exporting services. Rather than speculate about credit ratings when it is very clear from all that the credit rating agencies have said that there is currently no risk to the UK's credit rating, what we should be focusing on is a strategy for growth and jobs for the future. We will hear more about that next week.

Secondary information