Michael Fallon: Balls plan could lose UK its AAA rating

The Conservative Party deputy chairman claimed Ed Balls wanted to "splash £12bn on an unfunded VAT cut" leading to the UK losing its AAA credit rating and British people paying more for their mortgages.

Michael Fallon told Andrew Neil: "Mr Balls is the man who racked those debts up in the first place and now wants us to borrow even more."

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