The UK loses its AAA credit rating following the vote to leave the European Union

The transcript discusses the economic implications of Brexit, highlighting concerns about a potential recession and the Chancellor's response to the situation. It covers the downgrade of Britain's credit rating by Standard and Poor's, the impact on the stock market, and the reactions of businesses facing uncertainty. The economic outlook appears bleak, with predictions of stagnation and potential recession. The transcript concludes with a note on market sentiment, which remains cautious but resilient.

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