Moody’s say downgrade from ‘stable’ was driven by political instability and high inflation.

YOU would think the report card on Boris Johnson’s Brexit issued this week by international ratings agency Moody’s would make embarrassing reading for the Prime Minister and his Government.

Brexit trade deal is largely lacking in areas vital to the UK economy, such as services. / The UK economic will be significantly smaller of the longer term.

Ratings agency cites weakening economy, Brexit woes and coronavirus shocks.

Boris Johnson downplaying economic risks for political gain, say bank’s economists in scathing assessment of government’s strategy and its impact

The next, Brexit-induced recession will be most painful for poorer households, who are also those that voted Leave in greatest numbers.

Bank economists also note that weakening world economy would amplify Brexit hit to UK.

Public spat as rating agency insists Theresa May’s Florence speech has not altered big picture of likely Brexit damage to the economy.

The UK could risk its strong sovereign credit rating if it failed to foot the Brexit bill in a no deal scenario, Moody’s ratings agency has warned.