Eurozone Crisis
Oral Answers to Questions — Leader of the House
11:34 am
Mark Hoban (Financial Secretary, HM Treasury; Fareham, Conservative)
I think we would find that our credit rating would be under pressure, as Standard & Poor’s suggested in its report last month, and we know that when credit ratings are downgraded, the natural consequence is higher interest rates, which hits families and businesses and makes recovery harder to achieve.