Commenting on the downgrading of the UK’s credit rating by Moody’s, Vince Cable, leader of the Liberal Democrats, said:

“It is no coincidence that the UK’s credit rating was downgraded in the immediate aftermath of the Prime Minister’s speech in Florence.

“Despite Theresa May’s conciliatory tone we are no closer to knowing what our future relationship with the EU will be once any transitional deal expires.

“The warning that Moody’s have issued by downgrading the credit rating is that the economy will be weaker once the transitional deal comes to an end. All May has done is simply delay the economic pain caused by an extreme Brexit.”

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