Pre-Budget Report

I will give way to the right hon. Gentleman shortly, after I have finished reading out these reactions and responses to the PBR. On the afternoon of the PBR, Barclays said""the UK's triple-A sovereign credit rating and the currency are likely to remain vulnerable."" BNP Paribas said:""Given that the Government has decided to ignore the opportunity to take steps to remove the risk of a sovereign rating down grade we expect sterling to remain under pressure over the medium term."" The bond-rating agency, Moody's, said that the PBR plans""stretch to the limit…what is consistent with a top rating.""