downgrade

The prime minister insisted there was "no misleading", pointing to downgraded forecasts for economic productivity which he said meant the government had £16bn less than it otherwise would have had.

Those who lose out might be at risk of downgrades to their credit ratings if their future cash flow doesn’t keep up with debt they have issued.

Reports in the run-up to the Budget had suggested the chancellor could have faced a £20bn gap in meeting her tax and spending rules as a result of the OBR's productivity downgrade.

Saudi jets could be equipped with downgraded avionics, reduced flight performance or range, limited weapons packages, hidden IFF transmitters and so forth.

The chancellor had repeatedly suggested a downgrade to the UK's predicted economic productivity would make it hard to meet her spending rules.